Title: National ePayment Strategy Presented by Ms. Saowanee Suwannacheep Assistant Governor, Bank of Thaila
1National e-Payment Strategy Presented
by Ms. Saowanee Suwannacheep Assistant
Governor, Bank of ThailandConference on
Electronic Commerce Strategies for Development
November 21, 2002
2Topics Covered
- Existing e-Payment in Thailand
- Current Problems and Barriers
- BOTs Actions to cope with Problems
- Key Success Factors
-
3I. Existing e-Payment in Thailand
Core e-payment Systems BAHTNET, Media Clearing
Other Payment Products ORFT, Trade Hub, B2B
e-Pay, Internet Banking, Telephone Banking,
Mobile Banking
Customers
4Bank of Thailand Payment Services
5Bank of Thailand Payment Services
6II. Current Problems and Barriers
- 1. Inconvenience access to new technologies and
the internet - 2. Payment systems provided by BOT ( BAHTNET,
Media Clearing) are yet to be linked to cross
border. - 3. Lack of open network structure in inter-bank
connections (except BAHTNET, Media Clearing) - 4. The usage of modern security infrastructure
and technology is not widespread. - 5. Public lack of profound technology know how
and can not afford to employ such technology.
7 Limitation of making inter-bank transactions
8III. BOTs Actions to Cope with the Problems
1. Joining regional and international initiatives
on payment issues - APEC, EMEAP, SEACEN,
BIS 2. Restructuring IT systems and Data Linkage
between BOT and FI -BOTs IT strategy, FI
DMS, Inter-bank Payment Systems Development
toward E-FITS
4. Charting the payment strategic directions for
2002-2004 (Payment 2004 Project) as a road map
for safe, sound, and efficient payment systems in
Thailand which will greatly support e-payment.
9PAYMENT 2004
Implementation Plan
AGENDA 1 Industry Payment Body
AGENDA 3 Payment Legislation
AGENDA 2 National Payment Data
AGENDA 4 Infrastructure and Standards
AGENDA 5 Cross Border Connection
http//www.bot.or.th
10Agenda 1 Industry Payment Body
Recommendation
Strategic Directions
- Establish Thailand Payments Association in
consultation with the market
- Key driver is the need for co-operation and
co-ordination in the payment market
Lead Institution
- Thai Bankers Association
- Related institutions BOT, FBA, CAT, private
companies
11Industry Payment Body
- I. Regulatory Issue
- Set rules, procedures and standards on payment
issues to ensure efficiency, safety and fair
competition in payment systems.
12Collaboration of BOT Industry Payment Body
Industry Payment Body Scope Micro Level
BOT Scope Macro Level
- Facilitate the setting up
- and operating of new
- payment systems,
- method and technologies
- under BOTs direction.
Payment Policy
13Agenda 2 National Payment Data
Recommendation
Strategic Directions
- Conduct an annual survey of national payment data
led by the central bank in close co-operation
with industry
- Key driver is the market need for payment data to
support decision-making and policy-making - Assessment of current payment market in Thailand
- Compile and maintain industry payment statistics
- Support central bank policy making in payment
systems - Forecast future payment trends
Lead Institution
- Bank of Thailand
- Related institutions TBA, FBA, CAT, private
companies
14Agenda 3 Payment Legislation
15Agenda 4 Infrastructure and Standards
Recommendations
Strategic Directions
- Develop a common payment platform based on
interoperable standards
- Key driver is the need to develop a common
payment platform based on interoperable standards
to reduce duplicative payment infrastructure
investments and to support the growth of
e-commerce - Develop a complete Straight Through Processing
(STP) in payment circle
Lead Institution
- NECTEC
- Related institutions BOT, TBA, FBA, private
companies
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17Inter-bank Transaction Conceptual Model
Payment Provider
Central Bank
Bank
ITMX
Consumer
Gateway
Bank Host
Merchant Host
Corporate
B2B2C2G
Media Clearing
Gateway
ITMX
Mobile
Taxpayer
Inter-bank Transaction Management Exchange
Gateway
Inter-bank Settlement
EBPP
Govt Agency
BAHTNET
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19- CLS
- ASEAN Regional Payment Gateway Initiative
20New Service for Foreign Exchange Market
Eligible Currencies
2003 SGD, SEK, NOK, DKK 2004 HKD, ZAR,
KRW
21ASEANPay Vision
- To provide a Regional Payment Gateway for
- efficient, secure cost-effective
- clearing settlement of
- all cross-border payments in ASEAN
22IV. Key Success Factors
- Recognition of each stakeholders new roles
- Utmost collaboration among key stakeholders
- - BOT and Industry Payment Body
- - Banks and Non-banks under the umbrella
of - Industry Payment Body (Turn
competition into collaboration) - BOTs leading roles in promoting, supporting
- and facilitating in any aspects deemed
appropriate - and necessary.
23Q A
Thank You