Thailand has recently expanded its QR payment system for international travelers, enabling them to make seamless payments at local stores using QR codes linked to their home-country banks and digital wallets.
The initiative is part of the country’s broader push toward a more cashless and digitally integrated tourism economy, which aims to simplify financial transactions and dependence on cash and currency exchange for tourists, Travel and Tour World reported.
The expanded QR payment is led by the country’s central bank, the Bank of Thailand (BoT), and supported by eight major financial institutions and international payment networks, including Alipay for Chinese and global users; WeChat Pay for mobile wallet payments; and UnionPay for international card-linked QR transactions.
The expansion aims to strengthen Thailand’s position as a digital payments hub in Southeast Asia.
The financial institutions supporting the QR expansion system include Krung Thai Bank, Bangkok Bank, Kasikorn Bank, Siam Commercial Bank, Bank of Ayudhya (Krungsri), ICBC (Thai), Bank of Agriculture and Agriculture Cooperatives, and CIMB Thai Bank.
With the new system, tourists can scan Thai QR codes at any participating merchant using their banking or digital wallet apps and complete their payments in real time via linked networks.
The expanded QR payment infrastructure is supported by National ITMX, Thailand’s domestic payment switching system. National ITMX works with global financial partners to ensure interoperability between domestic and international platforms, enabling seamless cross-border payments.
Thailand marks the expansion of its QR payment system as a major step toward the country’s digital tourism infrastructure. With this upgrade, tourists in the country will have a better payment option for travel, while the Southeast Asian nation strengthens its position as a leader in cashless tourism.
With the support of major Thai banks and international payment networks, the expanded QR system is expected to enhance convenience for millions of international visitors in Thailand and to modernize its tourism economy.
Bank of Thailand readies stablecoin laws
In related news, the Bangkok Post reported that the Bank of Thailand is progressing with plans to introduce a baht-pegged stablecoin, an initiative aimed at supporting digital finance.
The central bank’s Governor Vitai Ratanakorn, shared this intention during the “Capital with Purpose” conference organized by efinanceThai. The governor said that the BoT plans to hold a public hearing on the stablecoin proposal by the end of 2026.
Ratanakorn emphasized that strict requirements would be enforced for any stablecoins introduced in Thailand, and one of the primary conditions is that the asset must be fully backed 1:1 by Thai baht reserves.
During the first phase, the BoT will allow financial institutions to use stablecoins for settlement purposes only; additional use cases will be assessed in the succeeding phases.
The initiative reflects the central bank’s goal of integrating technological advancement with financial stability and regulatory compliance as digital currencies remain popular.
The governor also remarked that personal QR code payments in Thailand must be conducted exclusively in Thai baht.
He said that the central bank is already coordinating with operators in the country to review transactions and identify any non-compliant companies with Thai regulations, specifically discouraging the use of yuan-dominated transactions through platforms like Alipay and WeChat Pay. At the time, the Bank of Thailand had already suspended around 5,000 accounts that were used for peer-to-peer yuan transfers via these platforms between February 2025 and May 2026.
Ratanakorn said that regulated payment service providers must process transactions only in baht, and violations could result in fines, suspensions, and even license revocation.
Addressing the rise of businesses offering foreign exchange trading services, the governor stated that the central bank has no policy to grant licenses for forex operations aimed at speculative trading. Money transfer services that settle such transactions, domestically or internationally, may violate Thailand’s Exchange Control Act of 1942. Such violations may be subject to penalties of up to 200,000 baht ($6,020) and up to 3 years imprisonment, or both.
Entities or individuals involved in advertising or promoting speculative foreign currency trading could face charges under the Emergency Decree on Fraudulent Borrowing of 1984, with penalties that may include 5-10 years imprisonment, 500,000 baht ($15,050) to 1 million baht ($30,101) fine, and daily fines of up to 10,000 baht ($300) for ongoing violations.
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