Hong Kong residents traveling to Thailand will soon be able to pay for retail purchases in the Southeast Asian country using Faster Payment System (FPS), in a move that further supports cross-border transactions amidst the global revival of tourism.
In return, Thai residents traveling to Hong Kong will be able to use PromptPay when paying for purchases. There are around 50,000 Hong Kong merchants that support FPS. This feature will be available in December as revealed at the ongoing Hong Kong FinTech Week conference..
Hong Kong Monetary Authority Chief Executive Eddie Yue Wai-man expects the exchange rate to be competitive, helping attract users from both nations.
Further details are yet to be announced, but this signifies another collaborative move between Hong Kong and Thailand that can enhance their positions in the finance industry.
