Thailand is one of the Southeast Asian markets where the shift to a cashless economy, led by the Bank of Thailand, has moved fastest, and QR payments are now routine everywhere from street stalls to department stores. At the center of this shift is PromptPay, a national payment infrastructure that enables instant account-to-account transfers using only a phone number or national ID, with over 70 million registered accounts, used by essentially most Thai adults. If you sell online to Thai consumers, this is a baseline payment method to evaluate before cards.

With credit card penetration relatively low in Thailand, account-based transfers are close to the default payment habit. So for businesses that broadly target general local consumers, such as fashion and beauty cross-border shopping sites, or digital content businesses with frequent small-ticket purchases, whether PromptPay is supported can directly affect payment conversion rates. See the comparison table below for how PromptPay's role differs from other payment methods in Thailand.

When a consumer scans a PromptPay QR code in their bank app or approves a transfer based on a phone number or national ID, the payment moves instantly in Thai baht (THB). Hecto Financial receives this amount in the local currency, converts it, and settles it to the Korean merchant in whichever currency — USD, KRW, or JPY — was chosen under the contract. Because real-time account transfers confirm approvals and process cancellations differently from cards, reviewing the technical documentation before integration is necessary.

Korean corporations can consider accepting PromptPay payments through integration with Hecto Financial alone, without signing separate contracts with Thai banks. However, actual integration feasibility and settlement cycle, fees, and settlement currency options vary by industry and transaction volume, so a consultation with Hecto Financial's sales team is required before contracting.

• Business registration country

  Confirm whether contracting is possible on the basis of a Korea-registered business

• Sales channel

  The integration approach differs depending on whether you sell online only or also operate offline stores in Thailand

• Product categories handled

  Advance confirmation is needed as to whether your products fall under restricted categories per the PromptPay operator's merchant policy

• Compliance with local regulations

  Confirmation is needed that you comply with Thailand's payment and foreign exchange regulations (see official sources below)

Amounts consumers pay via PromptPay arise in Thai baht (THB). Hecto Financial receives this in the local currency, converts it, and settles it to the Korean merchant in one of three currencies — USD, KRW, or JPY — as specified in the contract. The settlement cycle and fee rate are set according to contract terms. Because refunds involve both the real-time-transfer nature of PromptPay and Hecto Financial's operating policy, please confirm the refund process and turnaround time before contracting.

• Bank of ThailandOfficial information on Thailand's payment systems and electronic payment regulations. If actual regulations differ from this page, the official source takes precedence.