Visa marks major milestone in Thailand with full participation in domestic debit market

Stocks and Financial Services Press Releases Wednesday June 27, 2018 16:40
Bangkok--27 Jun--Spark Communications
Visa announces 'Go Live' for processing of domestic debit transactions
Visa to offer comprehensive suite of debit products and resources to grow digital payments in line with National ePayments Plan

Visa, the world's leader in digital payments, has announced it is now processing debit transactions in Thailand. This milestone follows the November 2017 announcement where Visa received a domestic network license from the Bank of Thailand.

The move to fully participate in the domestic payment market reflects Visa's commitment to further grow digital payments for consumers and businesses as well as fostering a financially inclusive ecosystem in Thailand.

Suripong Tantiyanon, Country Manager, Visa Thailand said: "By operating as a processor of domestic debit transactions, Visa is well-positioned to leverage its strengths and network to continually drive innovation and expand access to electronic payments in Thailand creating a more financially inclusive ecosystem for all. Visa Debit will be a stepping stone for further adoption of electronic payments in the country and strengthens the country's national ePayment agenda."

Through a partnership with National Interbank Transaction Management and Exchange (National ITMX), Visa is now providing banks and merchants in Thailand with a comprehensive suite of Visa's debit products and resources to grow digital payments.

A Visa debit card provides consumers with fast, simple and secure access to the funds in their bank account and can be used to make purchases wherever Visa is accepted online and at more than 46 million merchant locations around the world.

About Visa Inc.

Visa Inc. (NYSE: V) is the world's leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company's relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visacorporate.tumblr.com and @VisaNews.


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