BBL ready for PromptPay

BBL ready for PromptPay

E-payment expected to hit traditional channel

Prassanee: Online platform taking off
Prassanee: Online platform taking off

Bangkok Bank (BBL) expects transactions via its branch channel will decline more than 5% annually over the next few years due to the advent of the government's national e-payment scheme.

Transactions through BBL's 1,000 or so branches nationwide have continued to decline by around 5% per year over the past few years as customers move away from the brick-and-mortar banking channel and towards the online platform, said executive vice-president Prassanee Ouiyamaphan.

Currently, transactions via the traditional channel represent about 30% of the total.

PromptPay, a money transfer and payment service via the digital channel under the e-payment scheme, is scheduled to open for pre-registration today at many commercial banks, including BBL.

Under PromptPay, people can easily and rapidly transfer money online to recipients who hold accounts at different banks, or even the same banks in cross-clearing zones, free of charge.

All transactions up to 5,000 baht are free; 5,000-30,000 baht transfers are charged a fee of no more than two baht; 30,000-100,000 baht transfers cost no more than five baht; and transfers exceeding 100,000 baht are charged no more than 10 baht.

Most customers are expected to register via ATMs, followed by the digital channel. The bank's ATM and debit cardholders total 12 million, while the bank has 9,500 ATM terminals.

BBL allows people to sign up for PromptPay during pre-registration, which runs until July 14, via mobile banking, internet banking, websites, ATMs, call centres, text messages and branches.

Separately, Kukkong Ruckphaophan, the bank's executive vice-president, said all banks would compete to attract consumers to use their accounts as the main account for PromptPay registration, though overlapping accounts will be unavoidable during the pre-registration period. However, accounts to be linked to mobile phones and ID cards will be verified from July 15 when official registration begins.

BBL shares closed yesterday on the SET at 158.50 baht, down 1.50 baht, in heavy trade worth 1.46 billion baht.

Do you like the content of this article?

Forced labour

An 18-year-old has sought protection from the Justice Ministry, telling a harrowing story after escaping from a call scam gang he was tricked into working for in Cambodia.


China's high-tech warplanes pose 'big new threat' to Taiwan

China's deployment of J-16D jets into Taiwan's air defence zone this week marked the first sighting of the new high-tech warplanes, Taipei confirmed Tuesday, their electronic-jamming equipment posing a fresh threat to the island.


Russia says US troop alert 'escalating tensions'

MOSCOW: Moscow on Tuesday accused the United States of ratcheting up tensions over Ukraine after Washington put several thousand troops on alert for possible deployment to boost NATO.