The partnership is aimed at bringing Singapore’s PayNow and Thailand’s PromptPay to enable faster cross-border financial services within ASEAN.
The two countries signed in July 2017 a fintech co-operation agreement and updated an existing memorandum of understanding on banking supervision.
For now, cash remains the main payment method in the region, with 57% of 4,000 consumers in seven Asian markets saying they rely on notes and coins for their purchases.
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