SET joins hands with BoT to promote business and digital payments for the business sector.

Bangkok, Stock Exchange of Thailand and Bank of Thailand Coordinate cooperation in promoting business and digital payments for the business sector. Mr. Manphong Senanarong, Deputy Manager, Head of Securities Issuer Division Stock Exchange of Thailand (Stock Exchange) and Mr. Ronadol Numnon, Deputy Governor for Financial Institution Stability The Bank of Thailand (BoT) signed a memorandum of understanding (MoU) on promoting business and digital payments for the business sector at the Bank of Thailand. Memorandum of understanding It is a coordination between Stock Exchange of Thailand and BoT in promoting and supporting the business sector in Thailand to conduct digital business in both trade and payments. They will jointly implement policies and promote increasing efficiency in trade and payment management of listed companies and entrepreneurs preparing to be listed. Through the central financial and payment infrastructure for the business sector or "PromptBiz" which this cooperation matches the goals of t he Stock Exchange that wants to support and push listed companies to use digital to help increase efficiency in operations Reduce costs and resource use To enhance the competitiveness of the business sector Including helping to strengthen transparency and sustainable business operations. (Environmental, Social and Governance: ESG) which will lead to the development of the digital economy and society for Thailand. PromptBiz is a payment infrastructure for businesses. Supports linking trade data and cross-bank payments. From billing, payment, and issuing receipts in a complete manner, which will help increase efficiency. Reduce costs and time for the business sector Able to reconcile trade data with payments accurately and quickly. In addition, the data can be used to extend other transactions, such as granting loans to businesses. The PromptBiz system has already begun to provide services. The 5 pilot banks include Bangkok Bank Krung Thai Bank Bank of Ayudhya Kasikorn Bank and Thanachart Thai Military Bank S ince August 29, 2023, the number of service providers, both banks and non-banks, will be expanded further in the next period. Interested businesses can inquire about PromptBiz services at the business customer service center and customer relations officers. (Relationship Manager) of these 5 banks and learn more information at the BoT website https://www.bot.or.th/th/financial-innovation/digital-finance/digital-payment/promptbiz. html or call 02 283 6858. You can also follow activities and published information on digital business through the SETLink channel of the Stock Exchange. https://www.setlink.set.or.th/main . Source: Thai News Agency