• Siam Commercial Bank (SCB) has developed an app in cooperation with Ripple, which was officially launched yesterday.
  • The SCB EASY App is designed to enable over 16 million private customers in Thailand to make fast and affordable payments.

Especially in Asia, the number of migrant workers who earn money in another country and then send it home to their families at excessive cost is very high. According to a recent survey, more than 86% of the population in China uses mobile payment applications and 67% in Thailand to send money. To make this need faster and cheaper for its customers, Siam Commercial Bank (SCB) has launched a new app that uses Ripple technology.


SCB launches Ripple-based app for real-time payments

Siam Commercial Bank is the oldest bank in Thailand and has a private customer base of more than 16 million people who have so far been subject to expensive transfer fees and long transaction times. As recently reported by, Ripple has been working with SCB for several months to develop a payment app called SCB Easy. Arthit Sriumporn, the SVP of Commercial Banking, explains

It is so difficult to send and receive money today. People have to physically go to a bank office, fill in long and complicated forms and wait for payments to arrive – without transparency. With our service, their relatives from abroad can transfer payments and receive the money immediately.

In a demo version of the SCB-Easy app, the bank demonstrated at the Swell conference last year how money reaches the recipient after only 40 seconds. Yesterday the app was officially released for the bank’s 16 million private customers. The development time took several months due to regulatory issues and the local legal situation.

SCB also plans to expand its cross-border payment traffic to 12 countries as well as the US dollar, euro, pound sterling and Singapore dollar. These countries include the United Kingdom, the USA, Singapore, France, Germany, Italy, Spain, the Netherlands, Ireland, Austria, Belgium and Portugal.

SCB and Ripple continue to work on offering cross-border EMVCo-QR payments. QR payments are a popular payment method, especially in South East Asia, but have so far been used mainly in local areas. The initiative is therefore primarily intended to support the local population, who are faced with high costs and long transaction times for traditional remittance services. In addition, tourists in Thailand should also benefit:

Imagine you are a tourist coming to Thailand and you can use your mobile application to scan for payments from your home country and avoid the need to exchange into the local currency. You can use your mobile application, scan the QR payment and receive goods immediately.

Sriumporn describes how SCB, in cooperation with Ripple, can significantly change and improve people’s lives. SCB handles more than 60,000 transactions between private individuals every month and a total transaction volume of more than 400 million USD.


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