Cambodia, Thailand, Laos, Extend Cross-border QR Code Payments
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pissontheroof
- Expatriate
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Re: Cambodia, Thailand, Laos, Extend Cross-border QR Code Payments
Nowadays I’m realizing the answer to every question is not BEER
Re: Cambodia, Thailand, Laos, Extend Cross-border QR Code Payments
That's deep, I'll drink to that.pissontheroof wrote: ↑Sun Oct 29, 2023 2:23 am Nowadays I’m realizing the answer to every question is not BEER
Re: Cambodia, Thailand, Laos, Extend Cross-border QR Code Payments
A few days ago, I got a notification from ABA Bank (shared below) saying that their app can now be used to make QR code payments in Thailand ("PromptPay"). I'll give that a shot next week, when I'll be back in Bangkok. They say it's "free", so I'll be interested in the exchange rate they'll use.
Not terribly useful for myself, as I have Thai banking apps, but for visitors, it could come in handy. Also for those in transit at Thai airports, as you can pay pretty much everything with PromptPay.
Not terribly useful for myself, as I have Thai banking apps, but for visitors, it could come in handy. Also for those in transit at Thai airports, as you can pay pretty much everything with PromptPay.
Re: Cambodia, Thailand, Laos, Extend Cross-border QR Code Payments
I finally tested this ^^ today.
When we discussed cross-border QR code payments previously, some members were concerned that the mark-up might be significant, especially for tiny amounts. So I just bought some ice cream worth 35 baht (about a dollar) at a Lotus's Express minimart to put this to the test.
This is what ABA Bank's payment slip looks like for such a cross-border QR code payment:
You can see the original amount (35 baht), converted to 4,300 riel which was debited from my KHR account.
A savvy traveler coming from Cambodia who wants to use cash instead might be best off taking crisp $100 bills to SuperRich here in Bangkok. Choose the time and the branch wisely though, unless you don't value your time waiting in a lengthy queue. Today (at 34.55 THB/USD), this gives you 3,455 baht, so that 35 baht ice cream costs you $1.01.
Replenishing those 4,300 riel that ABA debited from my KHR account using my ABA USD account, on the other hand, would cost me $1.05 right now (at 4,090 KHR/USD).
Which means that I paid about 4% more using the cross-border QR code option, compared with taking a $100 bill out of my ABA account in Cambodia, carrying it to Thailand and exchanging it at SuperRich. Not too bad.
Where would I actually consider using that, if I didn't have Thai bank accounts?
When we discussed cross-border QR code payments previously, some members were concerned that the mark-up might be significant, especially for tiny amounts. So I just bought some ice cream worth 35 baht (about a dollar) at a Lotus's Express minimart to put this to the test.
This is what ABA Bank's payment slip looks like for such a cross-border QR code payment:
You can see the original amount (35 baht), converted to 4,300 riel which was debited from my KHR account.
A savvy traveler coming from Cambodia who wants to use cash instead might be best off taking crisp $100 bills to SuperRich here in Bangkok. Choose the time and the branch wisely though, unless you don't value your time waiting in a lengthy queue. Today (at 34.55 THB/USD), this gives you 3,455 baht, so that 35 baht ice cream costs you $1.01.
Replenishing those 4,300 riel that ABA debited from my KHR account using my ABA USD account, on the other hand, would cost me $1.05 right now (at 4,090 KHR/USD).
Which means that I paid about 4% more using the cross-border QR code option, compared with taking a $100 bill out of my ABA account in Cambodia, carrying it to Thailand and exchanging it at SuperRich. Not too bad.
Where would I actually consider using that, if I didn't have Thai bank accounts?
- At cashless food courts
- At restaurants and shops in the transit area of Bangkok's airports
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phuketrichard
- Expatriate
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Re: Cambodia, Thailand, Laos, Extend Cross-border QR Code Payments
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
Re: Cambodia, Thailand, Laos, Extend Cross-border QR Code Payments
I second that, @phuketrichard.
Also, during the great depression, the value of money actually increased.
But people had a very hard time getting any money out their banks.
Those who had cold, hard cash stashed away, could buy food, pay rents, etc.
See here, for example: https://www.ssa.gov/history/bank.html
Also, during the great depression, the value of money actually increased.
But people had a very hard time getting any money out their banks.
Those who had cold, hard cash stashed away, could buy food, pay rents, etc.
See here, for example: https://www.ssa.gov/history/bank.html
Re: Cambodia, Thailand, Laos, Extend Cross-border QR Code Payments
I tried a Thai QR code beginning of the month in Thailand with my ACLeda App and it didn't work.
However, scanning an ABA code (in Cambodia) with ACLeda works now h and it works without fees
However, scanning an ABA code (in Cambodia) with ACLeda works now h and it works without fees
Driving on Cambodian roads is just like playing a classic arcade top scroller. The only difference is a force feedback controller, the limitation to only one life and the inability to restart, once Game Over
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