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Transcript of Http:// 1 National e-Payment Strategy Presented by Ms. Saowanee Suwannacheep Assistant Governor,...
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http://www.bot.or.th
National e-Payment Strategy
Presented byMs. Saowanee
SuwannacheepAssistant Governor,
Bank of Thailand
Conference on “Electronic Commerce Strategies for
Development”
November 21, 2002
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I. Existing e-Payment in Thailand
II. Current Problems and Barriers
III.BOT’s Actions to cope with Problems
IV.Key Success Factors
Topics Covered
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I. Existing e-Payment in
Thailand
Other Payment Products : ORFT, Trade Hub, B2B e-Pay, Internet Banking, Telephone Banking, Mobile Banking
Core e-payment Systems : BAHTNET, Media Clearing
Customers
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Bank of Thailand Payment Services
64,375 .00
16,785 .00
183 .00
0.00
10,000.00
20,000.00
30,000.00
40,000.00
50,000.00
60,000.00
70,000.00
BAHTNET Cheque(Interbank)
MediaClearing
Value of transactions in 2001 (Billions Baht)
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738,159
74,728,475
5,758,452
N.A.
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
60,000,000
70,000,000
80,000,000
BAHTNET Cheque(Interbank)
Media Clearing
Volume of transactions in 2001
Bank of Thailand Payment Services
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II. 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.
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Limitation of making inter-bank transactions
Participating Banks
Inter-bank Intra-bankBOT Sett.
System(all)
ORFT(13)
B2BePay(6)
TradeHub(6)
Internet Banking
(16)
TFB, BBL, BAY
SCB, KTB
BOA
TMB
BT
DBS, SCIB, UOB, NTB, GHB
Citi, Tokyo, Deutsch, BNP, Mizuho, Std Chart, JPMorgan, ThanaChart, HSBC
Others (14)
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III. BOT’s 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:
-BOT’s IT strategy, FI DMS, Inter-bank Payment Systems Development toward E-FITS
3. Implementing the BOT Strategic Objectives for the year 2003-2007 on the issue relating to e-payments by;- Facilitating the development of payment systems that can fully serve all activities
relating to e-commerce and making sure that the systems are complied with the BIS Core Principles .
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.
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AGENDA 1:Industry Payment
Body
AGENDA 3:Payment
Legislation
AGENDA 2:NationalPayment
Data
AGENDA 4:Infrastructure
andStandards
PAYMENT 2004
AGENDA 5:CrossBorder
Connection
Implementation Plan
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• Establish Thailand Payments Association in consultation with the market
• Key driver is the need for co-operation and co-ordination in the payment market
RecommendationStrategic Directions
Lead Institution
• Thai Bankers’ Association
• Related institutions: BOT, FBA, CAT, private companies
Agenda 1: Industry Payment Body
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I. Regulatory Issue
Set rules, procedures and standards on payment issues to ensure efficiency, safety and fair competition in payment systems.
II. Payment Policy Issue
Facilitate the setting up & operating of national payment systems, methods and technologies.
Facilitate the linkage of payment systems under its umbrella with other local and international systems.
Compile payment data and researches relating to payment issues.
Be a forum for cooperation among payment service providers on the payment issues.
Industry Payment Body
CORE RESPONSIBILITY
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Collaboration of BOT & Industry Payment Body
Payment Systems
- Oversigh
t (Risk &
Efficiency)
Regulatory Power
- Set Direction on payment issues
Payment Policy
BOTScope: Macro Level
Payment
Systems
Law
- Rules / Procedure / Standards
Regulatory Power
-Facilitate the setting up and operating of new payment systems, method and technologies under BOT’s direction.
Payment Policy
Industry
Payment BodyScope:
Micro LevelPayment
Association Law
(If
needed)
Communicate BOT’s Regulatory
Power and Payment Policy
via a Board of Directors
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• 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
RecommendationStrategic Directions
Agenda 2: National Payment Data
Lead Institution
• Bank of Thailand
• Related institutions: TBA, FBA, CAT, private companies
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• Study and introduce a new Payment Systems Act to safeguard financial stability
• Key driver is the need for an explicit legislation on payment systems to safeguard financial stability
• Purpose is to regulate payment systems to control risks in the financial system and to promote their efficiency and stability
RecommendationsStrategic Directions
Lead Institution
• Bank of Thailand
• Related institutions: Ministry of Finance, TBA, FBA
Agenda 3: Payment Legislation
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• 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
RecommendationsStrategic Directions
Agenda 4: Infrastructure and Standards
Lead Institution
• NECTEC
• Related institutions: BOT, TBA, FBA, private companies
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Current ModelCurrent ModelPayment Provider
Central Bank
Merchant Bank OnlineUser
MerchantHost
BAHTNET
Media Clearing
Bank HostTradeHub
B2B E-pay
ORFT
Consumer
Taxpayer
Govt Agency
Corporate
Inter-bank Settlement
Inter-bank Transactio
n
Intra-bank TransactionInter-bank Transaction
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Inter-bank Inter-bank Transaction Transaction
Conceptual ModelConceptual ModelPayment Provider
Central Bank
Merchant Bank OnlineUser
MerchantHost
BAHTNET
Media Clearing
Inter-bank Settlement
Bank Host
Consumer
Taxpayer
Govt Agency
Corporate
ITMX
Inter-bank Transaction Management & Exchange
ITMX
B2B2C2G
Mobile
EBPP
Gateway
Gateway
Gateway
Intra-bank TransactionInter-bank Transaction
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• (1) Study and consider connecting BAHTNET to a large-value cross-border payment system to reduce foreign exchange settlement risk and (2) Study and consider connecting Media Clearing to a small-value cross-border payment system
• Key driver includes the needs to develop cross-border payment systems to facilitate foreign trade, to support the growth of cross-border payments, to lower payment charges, and to reduce foreign exchange settlement risks
RecommendationsStrategic Directions
Agenda 5: Cross-Border Connections
Lead Institution
• Bank of Thailand
• Related institutions: TBA, FBA, Foreign Ministry, Commerce Ministry
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• CLS•ASEAN Regional Payment Gateway Initiative
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European European Central BankCentral Bank
Swiss National BankSwiss National BankUS Federal ReserveBank of JapanBank of Japan
Bank of EnglandBank of England Reserve Bank of Australia
Bank of CanadaBank of Canada
Eligible Currencies
2003 : SGD, SEK, NOK, DKK 2004 : HKD, ZAR, KRW
New Service for Foreign Exchange Market
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To provide a Regional Payment
Gateway for
efficient, secure & cost-effective
clearing & settlement of
all cross-border payments in
ASEAN
ASEANPay Vision
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IV. Key Success Factors
Recognition of each stakeholder’s 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)
BOT’s leading roles in promoting, supporting
and facilitating in any aspects deemed appropriate
and necessary.
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Q & A
Thank You