Speaking on behalf of the Thai people, I believe our history has played a big part in influencing our actions and our mindsets, allowing us to cope with new challenges. Specifically, Thailand’s long history as an open trading nation—having limited resources and military strength, and operating under the landscape of continued foreign threats—has implanted the mindsets of the Thai to be open-minded and receptive to new opportunities while flexible in our approach to adversities. It is with this mindset that has allowed our nation to adapt to changing environment and withstood various threats. Looking ahead, our resilience will certainly be tested by disruptive changes brought about by technological advancement. Thus far, the Thai people have shown that they are able to adapt and be receptive of new opportunities that have come with new technologies. This can be seen in the remarkable rate of adoption of the PromptPay faster-pay service since its launch just over two years ago, with now over 47 million subscribed accounts, a large number considering the total population of Thailand is just over 66 million. During that same period, usage of digital  7/9  payment almost doubled, reaffirming receptiveness of the Thai people to new payment channel. Moreover, the Thai population is digitally engaged, ranking among top countries with the highest number of social media users3. This has created opportunities for new platforms to emerge and innovations to prosper. Besides the people, increasing number of Thai businesses have incorporated new technologies into their work processes.
Speech at the Press Conference: Collaboration on Adopting Standardized QR Code for e-Payment Dr. Veerathai Santiprabhob, Governor Wednesday 30 August 2017 Bank of Thailand ……………………………………………………… Executives from American Express, JCB International, Mastercard, VISA and UnionPay International President of Thai Bankers' Association President of Government Financial Institutions Council President of Association of International Banks President of Thailand Electronic Payment Trade Association President of the Telecommunications Association of Thailand under the Royal Patronage Press members and distinguished guests, I am very pleased that all payment service providers in Thailand are here to announce their collaboration on adopting QR Code standard for payments. This is considered an important milestone for which the standardized QR Code has been implemented in Thailand. It is also the first time that five international payment card network providers and Thai financial service providers have mutually agreed to adopt the same QR Code standard in providing payment services in Thailand. It is recognized that electronic payment (e-Payment) is a crucial component in driving a digital economy, where technologies have been utilized to deliver better services for consumers and businesses, to increase financial inclusion, to raise efficiency and to reduce costs; thus, enhancing the country’s competitiveness and supporting ‘ease of doing business’ principle.