Thailand's central bank has selected technology from Clear2Pay for an overhaul of its cheque processing system that will see a move away from paper to images.
Clear2Pay's local partner OGA has been contracted to implement the image cheque clearing system which will be based on the European vendor's service-oriented Open Payment Framework (OPF).
The OPF will be used to migrate the various paper cheque clearing systems currently in use to one unified image-based offering.
The implementation is part of Bank of Thailand's move towards the creation of one clearing house, one cheque clearing system and one-day clearing for the entire country.
Chim Tantiyaswasdikul, assistant governor, IT Group, Bank of Thailand, says: "This is an important project in the modernisation of our cheque system. This technology, backed by the expertise of OGA and Clear2Pay, will support the Bank of Thailand to meet its key objectives in modernising our cheque clearing system, and providing a better service for Thailand's banks and their customers."