Consumers are unlikely to be able to transfer money among themselves using the government's PromptPay service by the Oct 31 deadline due to "technical problems", according to bankers.
The Thai Bankers' Association expressed concern on Wednesday that the consumer-to-consumer part of PromptPay might not be ready by the end of this month.
The system is running into difficulties in terms of system installation and integration between local banks and the UK-based payment infrastructure operator VocaLink.
Somkid Jiranuntarat, chairman of Information Technology club of the Thai Bankers Association, said the system was still be tested. "Personally I don't think the C2C [consumer-to-consumer] PromptPay will be launched by the schedule. We're still trying the solve the problems now.".
The TBA will ask the Bank of Thailand for advice on the matter later.
The problems mainly stemmed from the different systems being used by Thai banks and VocaLink, which was hired to develop a mobile payment solution for banks, consumers and businesses in Thailand.
"Due to these technical problems, we need longer time to install and connect the systems and to test them.
"We have to test every single area, even the tiniest thing, in order to ensure stability and reliability," Mr Somkid said.
The TBA could not tell how long the tests would be even though all parties -- the central bank, TBA and vendors -- are working around the clock.
"Our priority is the efficiency of the system. This is our responsibility as a banking service provider. We have to make sure everything works as planned for consumers' sake," said Mr Somkid.
For the government-to-consumer system, he said the system was likely to be launched on time in November this year.
Predee Daochai, chairman of the TBA, confirmed the C2C system was still incomplete.
"We will need to discuss the issue with the central bank's officials," he said.
PromptPay is a collaboration among the TBA, the central bank and the IT vendor. The National Broadcasting and Telecommunications Commission (NBTC) later joined the effort, claiming it could "ensure the security of mobile and internet banking", as well as the PromptPay services.