4 major FinTechs streamlining payments in Thailand

By Gloria Mathias

The FinTech industry in Thailand is dynamic and evolving. Some of the most significant trends include Digital payments, Digital investment, Digital capital raising, Digital assets, and Neo-banking.

The payments industry is revolutionizing, and it’s happening quickly. Modern core architectures enable payment hubs to be lean and flexible, offering customers a range of services. To facilitate this, time-to-time updating of payment structures is imperative.

IBSi, with its powerful knowledge base of 50+ technology vendors, 1400+ system deals data and over 50+ consulting engagements, has been helping financial institutions push beyond their competition.

Below listed are 4 FinTechs simplifying the payment infrastructure in Thailand:

• Pay solutions

 Pay Solutions is an online payment service provider from Thailand. It makes convenient payments for customers that help to increase sales and grow businesses With Omni channels including Credit/Debit cards, instalment payments, QR Prompt pay, e-wallet, Mobile Banking and Bill Payment.

• Rabbit Line Pay

Rabbit-Line Pay Company is a joint venture between LINE-the Chat Application in Thailand and Rabbit, the e-money service in Thailand.  Rabbit LINE Pay, an integrated online and offline payment platform, officially rebranded itself as “LINE Pay” under the company name “LINE Pay (Thailand)” effective from October 18, 2023. There has been no change in the firm’s services. Users can continue to use LINE Pay services including money top-up, money transferring and payment as usual.

• Siampay

SiamPay is the online payment gateway system in Thailand. It provides secure and seamless electronic payment solutions for both SMEs and large enterprises. FinTech’s online payment system delivers reliable merchant services that allow businesses to accept online payments ranging from credit cards, internet banking, cash, or over-the-counter payments, e-wallet payments, and PayPal.

• TrueMoney

TrueMoney is a digital payment and financial platform that enables customers across 6 countries; Thailand, Myanmar, Cambodia, Indonesia, Vietnam, and the Philippines to access financial services with convenience, accessibility, and affordability. It offers an e-wallet app, a refined regional network and a transfer money system facilitating remittances.