Designated Payment Services

Since offline/online/e-commerce payment services have been applied to most of transactions occurred nowadays, and payment services providers have been playing a key role in the facilitation of such types of payment. The Payment Systems Act B.E. 2560 (A.D. 2017) (PSA) was therefore enacted to leverage governance and supervision of the payment services, business operation of payment services providers etc.

Under the PSA, in terms of the direction on payment services, the law prescribes that some types of payment services are considered as the Designated payment services, and the services providers of which require to obtain a license (E-payment license) so as to provide the customers with such payment services, including:

1.  Debit card, Credit card, or ATM card services;

2.  Electronic money services;

3.  Services for the receipt of payment on behalf of sellers, service providers, or creditors;

4.  Electronic money transfer services; and

5.  Any other types of payment services which will affect the financial.

However, in some cases, the payment services providers are not required to obtain the e-payment license in providing the abovementioned payment services, if the payment services are considered, by virtue of the Announcement of the Minister of Finance by recommendation of the Bank of Thailand (BOT), to be either the innovative payment services and are in the midst of testing, or the payment services for limited customer circle that do not affect the financial service and public interest at large. With that being said, the services providers shall still register such payment services with the BOT.