Thai and Japanese finance leaders explore cross-border payments and tourism app

Thai and Japanese financial-sector leaders are exploring digital payment links and a joint tourism app intended to simplify cross-border transactions, connect travel services and support investment between the two countries.

The proposals were discussed at a Bangkok event hosted by FinCity Tokyo, the Bangkok Post reported. They focus on turning digital-finance experiments into commercially viable services, with implementation dependent on regulatory cooperation, compatible payment infrastructure and private-sector investment.

A digital finance corridor

Yasuto Watanabe, director of the ASEAN+3 Macroeconomic Research Office (AMRO), called for a digital finance corridor linking Thailand and Tokyo. His proposal included cross-border investment in tokenised real-world assets, such as property and condominiums.

Watanabe also highlighted the need to move earlier proof-of-concept projects, including trade-finance initiatives, towards commercially viable products involving financial institutions and start-ups.

Tokenised money was presented as a potential means of making payments faster and reducing transaction costs for tourists, migrant workers and small and medium-sized enterprises. It could also facilitate investment by Japanese investors seeking Thai assets, although those applications would require regulatory approval and suitable infrastructure.

Tourism app would bring bookings and payments together

Chonladet Khemarattana, president of the Thai FinTech Association and Thailand chief executive of Webull Securities, identified tourism as a promising starting point for tokenised money and digital-asset applications.

He proposed a Thai-Japan tourism super-app bringing together travel information, ticket bookings and related services to help visitors overcome language barriers. The platform could combine QR-code payments with tokenised money or stablecoins, alongside augmented-reality features providing information about attractions, cultural activities and local services.

The proposal targets an established two-way travel market. Figures presented at the event put annual Thai travel to Japan at around one million visitors, with approximately 800,000 Japanese visitors coming to Thailand.

For travellers, the proposed service would connect transport, accommodation, tourism activities and everyday payments in one platform. For businesses in both countries, it could offer a way to serve customers across borders. These remain proposed uses rather than services announced as available to visitors.

Shared standards are central to closer links

Tetsuya Inoue, head of policy research at FinCity Tokyo and Sony Financial Group, highlighted Thailand’s experience with cross-border QR-code payments as a potential model for Japan.

He said common standards established by the Bank of Thailand and relevant agencies, together with shared gateways connecting payment systems, had helped different platforms work together. Japan could draw lessons from that approach because its payment providers span mobile network operators, railway companies and e-commerce platforms.

Broader integration would require compatible data standards, regulatory coordination and knowledge-sharing on stablecoins and central bank digital currencies. Regular dialogue on those instruments, alongside anti-money-laundering and counter-terrorism-financing standards, was also identified as a way to address regulatory differences.

FinCity Tokyo, a public-private partnership established in 2019 to strengthen Tokyo’s position as a global financial centre, is promoting the city as a gateway for Thai banks, asset managers and fintech companies seeking Japanese capital, technology and business networks.

The next challenge is translating the proposals into usable products: payment links and investment services will depend on the infrastructure, commercial backing and regulatory cooperation needed to operate across both markets.