Core Points - The Bank of Thailand has officially launched a cross-border QR code payment service between Thailand and China, aimed at enhancing cooperation in trade, investment, and tourism between the two countries [1][2] - The service allows users to scan Thai QR codes using mobile payment applications while in Thailand, significantly improving the convenience and efficiency of cross-border payments [1] - The initiative is supported by major Thai banks and Chinese payment service providers, with Bangkok Bank and Krungthai Bank acting as settlement banks [1] Group 1 - The cross-border instant retail payment service provides a more convenient, secure, efficient, and cost-effective payment method for the public [2] - It also expands trade cooperation opportunities for businesses [2] - The Bank of Thailand has established similar payment collaborations with nine other countries and regions to promote regional economic growth and accelerate Thailand's digital transformation [2] Group 2 - The expected number of mutual visits between Thailand and China is projected to reach 8.8 million in 2024 [1] - Initial participating Thai financial institutions include Bangkok Bank, Krungthai Bank, Kasikorn Bank, Industrial and Commercial Bank of China (Thailand), and SCB Bank [1] - More banks are anticipated to join the service network in the future [1]