Ant International, NITMX, Krungthai Bank expand cross-border pay

Ant International and National ITMX are partnering to enable Chinese travelers in Thailand to pay local merchants via Alipay by scanning PromptPay QR codes.

Krungthai Bank will serve as the settlement bank for this cross-border QR payment project.

The rollout will initially allow Chinese tourists to use Alipay, part of the Alipay+ e-wallet network, at millions of Thai merchants.

PromptPay, Thailand’s national payment system managed by National ITMX, has supported digital payments since 2016.

The initiative is guided by the Bank of Thailand and aims to boost payments connectivity between the two countries.

The collaboration is expected to support tourism and local businesses by making it easier for Chinese visitors to pay in Thailand.

Alipay has been accepted in Thailand since 2015, and the partnership will expand its merchant coverage, especially among small businesses.

🔗 Source: Ant International

🧠 Food for thought

Implications, context, and why it matters.

Unclear merchant fees for PromptPay-Alipay QR could affect cross-border economics

Thai merchants still lack a disclosed merchant discount rate (MDR) for PromptPay QR payments made by Chinese tourists using Alipay, so domestic versus cross-border pricing remains murky.
Key payment details such as foreign exchange (FX) spreads, settlement timing, and any cross-border MDR have not been shared, which keeps adoption risks hidden for small shops.
Malaysia’s TNG eWallet (Touch ‘n Go eWallet) charges 0.5% MDR for static QR codes (merchant-printed) 1, while cross-border payments add FX and platform costs 2. Zero-fee plans rarely hold, since processors must fund infrastructure and security 1.

Third-party developers can capture Chinese tourist spending through Alipay mini-programs

The Alipay+ Mini Program Platform lets merchants build lightweight apps inside Alipay 3, creating openings for Thai tourism, food and beverage (F&B), and retail to reach travelers before they land.
In 2024, the Tourism Authority of Thailand launched the first tourism board travel hub in Alipay 4. Partners can ship booking tools, city guides, or loyalty services for the 1.8 billion consumers connected by Alipay+ 4.
SaaS providers can use Alipay+ to push targeted promos and full-trip bundles 4, then connect with many PromptPay merchants as Association of Southeast Asian Nations (ASEAN) digital payments aim for $1 trillion by 2030 5.