BOT Regulatory Sandbox

Description:

This regulatory sandbox is open to any fresh, never-seen-before innovation with in-built safety measures and aims at benefiting the people of Thailand. The innovations stay in the sandbox for 6 to 12 months. One of the successful projects under this sandbox is PromptPay’s QR Code payment (Standardized QR Code for payment). It is a real-time fund transfer system involving 6 key technologies: QR Payment, Blockchain and Distributed Ledgers, Biometrics, Big Data, Machine Learning and Standard Application Programming Interfaces (APIs). The QR Code can be used for any mobile applications, multiple payment instruments, all merchants, open infrastructure and cross-border payments.

Country:

Thailand

Institution:

Bank of Thailand (BOT)

Category:

Digital Government


Focus:

E-ServiceRegulationRegulatory Sandbox

Technology:

FinTech

Links:

https://www.bot.or.th/Thai/AboutBOT/Activities/event/Documents/ADBI_bancha.pdf