Mastercard and National ITMX Widen E-Commerce Acceptance of Thai Debit Cards

Kasikornbank is first to benefit from the integration

Mastercard has partnered with Thailand’s local switch company, the National Interbank Transaction Management and Exchange (ITMX), to widen e-commerce acceptance of Thai debit cards in the country. Through this partnership, Mastercard has become the first global payment gateway to connect directly with ITMX. The integration allows Mastercard’s Payment Gateway Services to connect global and local merchants seamlessly to millions of debit cardholders in Thailand.

Apart from connectivity, this development also enables enriched security, efficiency and increased scale which will especially benefit merchants with large transaction volumes originating from Thailand. Consumers can also expect safe and secure e-commerce payments that are optimized for digital devices.

Kasikornbank will be the first bank to provide this service and its merchants will benefit from this integration by being able to accept domestic debit cards.

Ms. Wanna Noparbhorn, Managing Director of National ITMX, said: “National ITMX, as a service provider of local switching systems for local debit cards, is pleased to join forces with Mastercard to connect the company’s platform with Mastercard’s Payment Gateway Services in order to support e-commerce payments using local debit cards. By using Mastercard’s Payment Gateway Services through National ITMX and member banks, merchants can be assured of an international standard of security that complies with the Bank of Thailand’s regulations. This service provides merchants and customers with a more convenient way to make online purchases. It will also lower implementation costs for member banks, and support the government’s national e-payment and cashless society agenda.”

Donald Ong, Country Manager Thailand and Myanmar, Mastercard, said, “Mastercard actively supports the Thailand government’s long-term plan of achieving a progressively digital economy. Mastercard is pleased to partner with National ITMX to enable Thailand to go cashless through technology that ensures greater efficiency and security for debit card transactions. The partnership will not only benefit consumers, merchants and other stakeholders, but will enable Thailand’s digital economy to scale and thrive.”