Using credit cards while going abroad often incurs fees. Especially in Thailand credit cards are not accepted by many small businesses as the cost for the business is often high. Apart from that many small businesses also don't have machines to process your card.
This is where QR payment comes in. Almost all businesses, from supermarkets to street stalls in Thailand will accept QR payment straight into their bank account.

Payments for Malaysians in Thailand can now be achieves by using cross-border QR payments in Thailand, thanks to a collaborative initiative between Bank Negara Malaysia (BNM) and the Bank of Thailand (BOT). This integration allows Malaysians to use their e-wallets or mobile banking apps to make payments directly through Thailand’s local PromptPay QR system. Here’s how it works and the key details:

How It Works:

1. Mobile Banking & E-Wallet Apps: Malaysian travelers can use supported mobile banking apps (such as Maybank, CIMB, and others) or e-wallets to scan Thai QR codes.
2. Currency Conversion: Payments are automatically converted from Malaysian Ringgit (MYR) to Thai Baht (THB), using competitive exchange rates without the need for manual currency exchange.
3. Convenience: It eliminates the need to carry large amounts of cash or worry about exchanging currency.
4. PromptPay QR: Thai merchants accepting PromptPay QR codes (which are widespread) will be able to receive payments from Malaysian tourists.

Benefits:

• Seamless Payments: Malaysian tourists can make instant, cross-border payments in Thailand directly from their mobile apps.
• No Need for Foreign Cards: Since payments are made through the apps, there’s no need to use credit cards that may incur foreign transaction fees.
• Lower Costs: This solution often comes with lower transaction fees compared to traditional methods like credit cards or currency exchange.

Supported Apps:

• Many Malaysian banks and e-wallet providers, like DuitNow, have enabled this functionality, including Maybank, CIMB, Public Bank, and TNG Digital.

Expanding South East Asian Regional Cross-Border Payments

This system is part of a broader effort in Southeast Asia to enable seamless cross-border digital payments across the region, making it easier for tourists and businesses to operate without relying on cash. Thailand and Malaysia were among the early adopters in this collaboration, which aims to expand to other ASEAN countries.

Also see our article for Singaporeans paying with Promptpay in Thailand.