Thailand: Central Bank Establishes System For Internet Payments
The Nation reports from Bangkok that the "Bank of Thailand (BOT) has approved the setting up by the Thai Bankers’ Association of a national Interbank Transaction-Management Exchange (ITMX) to provide electronic payment services on the Internet."
Saowanee Suwannacheep, senior adviser to the BOT, said the ITMX would provide electronic payment services to businesses, individuals and local and international banks using IT infrastructure, so that they could do business using electronic payment systems and mobile phones.She said the National ITMX would facilitate electronic-payment transactions and conduct business in accordance with the framework and policies of the central bank and under the supervision of the bank’s payment system committee. It will be a switching centre for business and payment transactions, both business-to-business and business-to-customers.
“The national ITMX will allow easy electronic transfers of money by businesses. It will instil confidence in companies and those in the private sector wanting to conduct business over the network,” she said.
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