The Finance Ministry assured no recurrence of the collapse of the PromptPay electronic cash transfer system after it broke down on Sunday morning.
The assurance was given by Finance Minister Apisak Tantivorawong after the system collapsed for several hours on Sunday morning.
It was until late in the afternoon that the system was restored and returned to normal.
Apisak admitted of the collapse in the system of the National ITMX Company which provided the Promptpay service to commercial banks.
He described the collapse as unexpected because it happened during the transitional period.
This should serve as a lesson for commercial banks not to allow it to happen again so as to create confidence to customers that they will have good preventive standards, he said.
Meanwhile the finance ministry’s permanent secretary Somchai Sujjapongse said the collapse had no impact on the government’s the e-payment service which the ministry is handling.
He said the central bank has notified the ministry of the collapse and has coordinated closely with all relevant banks and the central company to fix the problems immediately.
He said the ministry has asked all to resolve all stranded money transactions and make sure all transactions have been settled with no delays.
Promptpay money transfer system broke down for several hours on Sunday morning, causing many bank customers unable to transfer their money to their receivers.
However, at about 3.35 pm, most commercial banks put up notices in the social media to announce that the money transfer service has resumed as normal.
Earlier, Bank of Thailand spokesperson Mrs Chanthawan Sucharitkul said that PromptPay service was disrupted starting at 7 am and the central bank had notified the National ITMX Company which provided the Promptpay service to commercial banks to fix the problem.
She allayed fear among some customers who were afraid that they might not receive the money wired into their accounts by the senders, saying that the central bank would make sure that everyone of them would get their money.
Source: Thai Public Broadcasting Service (Thai PBS)