New agreement aims to strengthen PromptPay and support digital inclusion
Mastercard and National ITMX (NITMX) have signed a new multi-year agreement to extend their collaboration on PromptPay, Thailand’s real-time payments platform.
The deal announced on June 17 builds on their longstanding partnership, first established in 2016, and is focused on developing new capabilities to support Thailand’s digital economy.
The extended agreement will allow both companies to refine the existing infrastructure and improve services that enable individuals and businesses to send and receive payments instantly.
PromptPay is developed by NITMX and powered by Mastercard’s Real-Time Payments (RTP) switch technology.
PromptPay sees strong growth in user numbers and transactions
PromptPay has become central to Thailand’s digital payments ecosystem. According to figures from Money and Banking (December 2024), there were over 81.06 million PromptPay registrations by the end of March 2025. In that month alone, the system processed 2.1 billion transactions worth more than 4.43 trillion baht, marking a 13 per cent year-on-year increase.
The platform allows users to make payments using national ID numbers, mobile numbers, or by scanning QR codes. It supports a range of everyday use cases including peer-to-peer transfers, government payments, tax rebates and retail purchases.
Digital inclusion and SME support remain a priority
The service has also helped improve financial inclusion across Thailand. Merchants such as mobile vendors and small retailers are able to receive digital payments without needing to invest in payment terminals.
This has allowed many small businesses to operate without cash and access digital financial services for the first time.
“We are proud to continue our collaboration with Mastercard, which has been instrumental in building one of the most advanced real-time payment systems in the world,” said Chatchai Dusadenoad, Managing Director of NITMX.
“PromptPay is more than a payment platform. It empowers individuals, supports small businesses, and drives national innovation.”
Next phase to focus on innovation and security
The extended agreement will focus on developing PromptPay’s features and expanding its capabilities. The goal is to deliver more efficient services and bring more users into the digital economy.
“We have been on the ground with the NITMX team since PromptPay went live in 2017,” said Bryan Sharkey, Executive Vice President of Real-Time Payments International at Mastercard.
“We are thrilled to be working together on the next generation of real-time payment solutions that will offer people and businesses new ways to transact.”
Winnie Wong, Country Manager for Thailand and Myanmar at Mastercard, added: “PromptPay has changed the way Thai consumers and businesses transact. This partnership supports the Bank of Thailand’s vision to strengthen the country’s digital financial infrastructure.”
NITMX is a central player in Thailand’s financial infrastructure, owned by 35 member banks and two non-bank institutions. Its services play a key role in supporting the country’s National e-Payment Roadmap.
The continued collaboration between Mastercard and NITMX demonstrates how public and private sector partnerships can deliver secure, inclusive and efficient digital financial services at scale.
