UnionPay International and Thailand's top four commercial banks said Thursday that the Thai Payment Network is now officially operational.
The Thai Payment Network is Thailand's switching network based on UnionPay's technical standards.
It will process local payments and provide a switching service for processing payments with UnionPay debit cards.
It will also establish a new payment network system for electronic payments in Thailand.
Chairman of China UnionPay Ge Huayong says the network partnership with Thailand's major financial institutions is a milestone in Sino-Thailand financial cooperation.
