The Bank of Thailand, the country's central bank, has warned local merchants that it may be risky to use unauthorized payment services from China, the Global Times Chinese edition reported on Wednesday, citing an article in a Thai newspaper called the Post Today.
It will be hard for Thai merchants to get their money back if any economic disputes arise, as the Chinese payment services aren't regulated by the Thai authorities, according to the report from the Post Today.
The report from the Global Times Chinese edition didn't reveal the date of the Thai report.
"The current law in Thailand doesn't forbid local merchants from using electronic payment?services from overseas countries," WeChat Wallet told the Global Times Chinese on Tuesday.
WeChat Wallet strictly obeys the Chinese law as well as the regulations in Thailand, the company said.
WeChat Wallet is a mobile app that allows users to make online payments. It was launched by Chinese Internet giant Tencent Holdings in 2014.
Alipay, China's largest online payment platform affiliated with Alibaba?Group Holding, didn't comment on this issue, said the report.
In recent years, Chinese electronic payment platforms have expanded overseas, particularly in the regions that are hot tourism destinations for Chinese tourists, said the report from the Global Times Chinese. In Thailand, many merchants allow consumers to use Alipay and WeChat Wallet, according to the report.
Tencent announced in November 2015 that it officially opened the WeChat payment service for overseas transactions. Chinese buyers can pay in yuan when shopping in foreign stores, and WeChat's payment system will settle with retailers in the local currency automatically, it said.
Alipay is also expanding overseas. It launched a transport card service in Singapore and Thailand as well as Macao in December 2014, according to media reports. The service allows users to purchase public transportation passes in those three markets in yuan through Alipay before they leave the Chinese mainland.
Consumers can use Alipay in nearly 9,000 7-Eleven?convenience stores in Thailand, according to the Global Times Chinese report.
