Mastercard and Thailand’s National ITMX (NITMX) have announced the extension of their long-standing collaboration to further enhance PromptPay, Southeast Asia’s leading real-time payments platform.
The renewed multi-year agreement aims to strengthen the foundations of Thailand’s digital economy, building on nearly a decade of partnership that began in 2016.
PromptPay, which leverages Mastercard’s Real-Time Payments (RTP) switch technology, has become a cornerstone of Thailand’s digital payments landscape. The system now supports over 81 million registrations and, as of March 2025, handled 2.1 billion transactions in a single month, worth more than 4.43tn baht—a 13% year-on-year increase. This growth reflects the success of PromptPay in improving financial inclusion and enabling seamless transactions for millions across the country.
The platform has proven particularly impactful for small merchants and informal businesses. By simply displaying a QR code, vendors can receive payments directly into their bank accounts, eliminating the need for physical terminals or frequent bank visits. This shift has allowed micro-entrepreneurs such as food stall owners and tuk tuk drivers to participate in Thailand’s digital financial ecosystem, promoting inclusive economic growth.
PromptPay was developed by NITMX using Mastercard’s RTP infrastructure and allows users to send and receive funds in seconds. Whether splitting a bill via phone number or receiving government benefits through a linked Citizen ID, the system supports a wide range of everyday transactions.
Mastercard EVP real-time payments international Bryan Sharkey said, “Our collaboration with National ITMX has been instrumental in shaping one of the world’s most advanced real-time payments ecosystems, enabling people in Thailand to choose how they pay, and get paid.
“We have been on the ground with the NITMX team when PromptPay went live back in 2017 and we have had the privilege of witnessing NITMX and the market take this real time capability onto unparalleled success. As we pass a decade of collaboration, we are thrilled to be working with NITMX on the next generation of real-time payment solutions that will offer people and business new ways to transact in real time”.
NITMX managing director Chatchai Dusadenoad said, “We are proud to continue our collaboration with Mastercard, which has been instrumental in building one of the most advanced real-time payment systems in the world. PromptPay is more than a payment platform — it is an enabler of inclusive digital growth that empowers individuals, supports small businesses, and drives national innovation.
“As we enter a new phase of development, NITMX remains committed to strengthening Thailand’s digital infrastructure and ensuring safe, seamless, and accessible payments for all.”
Source: https://fintech.global/
