Krungsri and NTT DATA enters into collaboration agreement offering 'MyPromptQR’ for Thai consumers in Japan

Stocks and Financial Services Press Releases Friday October 9, 2020 16:30
Bangkok--9 Oct--Bank of Ayudhya

Krungsri (Bank of Ayudhya PCL and its business units), a leading commercial bank in Thailand providing financial solutions through digital innovation and technology, and NTT DATA Corporation (NTT DATA), Japan’s major provider of a large-scale comprehensive card settlement network service for financial transactions and payment solutions, officially announced their collaboration agreement in introducing MyPromptQR, the latest and most advanced cross-border QR code payment platform for Thai consumers in Japan.

Whilst MyPromptQR unveils the new chapter of Thai QR payment system aligning with the Bank of Thailand’s payment system roadmap, the collaboration between Krungsri and NTT DATA marks another key milestone of Krungsri’s 'Digital First’ strategy setting a foothold in Japan, after being the first Thai bank which successfully launched a cross-border QR payment system in Japan last year.

Mr. Sayam Prasitsirigul, Deputy Chief Information and Operations Officer and Acting Head of Digital Banking and Innovation Division said; “The development of MyPromptQR has taken Krungsri’s aspiration to be a leader in financial innovation and digital banking to the next level. We are very pleased to have worked with NTT DATA which facilitates the largest card settlement network in Japan through its established business platform. The Krungsri- NTT DATA synergy has contributed to the success of Krungsri’s journey to capture business opportunities in Japan.”

Equipped with innovative financial know-how together with NTT DATA’s collaboration and by leveraging comprehensive expertise and extensive networks of Krungsri’s parent company, Mitsubishi UFJ Financial Group (MUFG) which is Japan’s largest financial institution and one of the world’s leading financial groups, Krungsri is in a solid position to offer MyPromptQR, the state-of-the-art financial innovation, to better meet diverse demands of its customers internationally and to set a strong foothold in the QR payment in Japan.”

Masanori Kurihara, Head of Cards & Payments Services Division in NTT DATA said; “NTT DATA is proud to be a part of the development of Thailand’s MyPromtQR system. With the strong network in Japan, we will connect the MyPromtQR system with the merchant network, enabling Thai consumers to make payments more conveniently and securely. As the Covid-19 pandemic is still a concern and suspends the international travel, during this initial stage, Krungsri and NTT DATA plan to launch the MyPromptQR in the fourth quarter of 2020 or when international travel is expected to resume. The service will be expanded into stores and shopping centers across Japan in the next phase of collaboration.”

MyPromptQR, the first Thailand’s business-scan-consumer cross-border QR code platform in Japan, will give the users seamless experience through Krungsri Mobile App and other banks’ mobile banking apps. It makes payment with higher security, more convenience and better speeds without cash handling for both consumers and businesses. They just present their one-time QR code generated on a mobile banking app to the merchants to scan for payment without the need to enter the amount.

Headquartered in Tokyo, NTT DATA is a major player in providing a comprehensive card settlement network service and a large-scale network service to handle financial transactions and payment solutions in Japan. NTT DATA provides various payment solutions in Japan, such as POS payment solutions to about 2,000 of retailers, payment terminals to about 850,000 actual merchants, EC payment solutions to about 3,000 of EC merchants, and storage agent solutions to about 43,000 convenience stores.

About Krungsri

Krungsri (Bank of Ayudhya PCL and its group companies) is the fifth largest financial group in Thailand in terms of assets, loans, and deposits, and one of Thailand’s five Domestic Systemically Important Banks (D-SIBs) with 75 years of history in the country. Krungsri is a strategic member of the Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial group and one of the world’s largest financial organizations. Krungsri provides a comprehensive range of banking, consumer finance, investment, asset management, and other financial products and services to individual consumers, SMEs, and large corporations through 683 branches (643 Banking Branches and 40 Auto Business Branches) and over 33,461 service outlets nationwide. The Krungsri Group is the largest card issuer in Thailand with 9.4 million credit cards, sales finance, and personal loan accounts in its portfolio; a major automobile financing service provider (Krungsri Auto); one of the fastest growing asset management companies (Krungsri Asset Management); and a pioneer in microfinance (Ngern Tid Lor).

Krungsri is strongly committed to the highest level of integrity in conducting its business. All Krungsri Group companies have been awarded accreditation from the Private Sector Collective Action Coalition Against Corruption (CAC) in collaboration with industry peers and stakeholders on a zero tolerance approach to corruption.

About MUFG (Mitsubishi UFJ Financial Group, Inc.)

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with over 2,700 locations in more than 50 countries. The Group has over 180,000 employees, and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.

About NTT DATA

NTT DATA – a part of NTT Group – is a trusted global innovator of IT and business services headquartered in Tokyo. We help clients transform through consulting, industry solutions, business process services, IT modernization and managed services. NTT DATA enables clients, as well as society, to move confidently into the digital future. We are committed to our clients’ long-term success and combine global reach with local client attention to serve them in over 50 countries. Visit us at nttdata.com.


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