Mitihoon – Visa, a global leader in digital payments, and the Korea Trade Investment Promotion Agency (KOTRA), in collaboration with leading Thai banks including TMBThanachart Bank (ttb), today announced the launch of the Global Trade Payment Platform (GTPP) in Thailand.
First introduced in South Korea in 2024, GTPP is the world’s first card-enabled trade settlement platform, designed to modernise cross-border payments and simplify how businesses transact globally.
The expansion comes as trade between Thailand and South Korea continues to grow, with Korea’s exports to Thailand reaching approximately USD 8 billion in 2025, across key sectors such as consumer goods, food and beverage, and beauty products. The introduction of GTPP in Thailand is expected to support businesses in both markets with more efficient, transparent and reliable ways to manage cross-border transactions.
GTPP is now live across seven markets, including Taiwan, Japan, Mongolia, the Philippines, Singapore, Vietnam, and Thailand as the latest addition. The platform has onboarded more than 400 Korean exporters across a wide range of industries, including beauty, medical equipment, food and beverage, automotive, electronics, fashion, baby products, pet products and services. Since launch, the platform has processed a growing volume of transactions and is targeting USD 100 million in transaction volume by the end of 2027.
By enabling card-based payments for trade, Visa and KOTRA, through GTPP, offer businesses a simpler alternative to traditional remittance methods, which are often manual, time-consuming and complex. The solution supports more predictable settlement timelines, improved cash flow flexibility, and secure, transparent transactions through a streamlined digital process.
The participation of ttb further strengthen the platform’s ecosystem in Thailand, expanding access to card-based payment solutions and supporting broader adoption among businesses engaging in international trade.
Anthony Watson, Country Manager, Visa Thailand said “Thailand is at an exciting point in its digital payments and trade evolution. The expansion of the Global Trade Payment Platform to Thailand reflects our shared ambition with partners like KOTRA and ttb to better support Thai importers sourcing goods from Korea. By enabling card-based trade payments, we are simplifying how businesses pay overseas suppliers, helping them manage cash flow more effectively, benefit from more predictable settlement timelines, and operate with greater confidence. This is especially important for businesses looking to scale and respond quickly to growing demand across sectors such as retail, F&B and e-commerce.”
Yongseong Kim, Director General, KOTRA Bangkok added “KOTRA has long been committed to supporting companies in expanding into global markets. The launch of GTPP in Thailand marks another step in strengthening trade connectivity and simplifying cross-border transactions. Through collaboration with Visa and local financial institutions, we aim to provide businesses with more efficient and reliable ways to engage in international trade.”
This builds on broader Korea-Thailand collaboration efforts, including initiatives such as the Bangkok Korea–ASEAN AI City Day 2026, hosted by Korea’s Ministry of Trade, Industry and Energy, the Ministry of Land, Infrastructure and Transport, and the Korea Trade-Investment Promotion Agency (KOTRA). The event brings together Korean companies and Thai organisations to explore partnerships in areas such as artificial intelligence, smart city development and digital transformation, reflecting the growing depth of economic and technological cooperation between the two countries.
By combining Visa’s global payment network, KOTRA’s trade expertise, and strong local banking partnerships, GTPP supports a more connected and efficient trade environment. As cross-border commerce continues to evolve, the platform provides businesses with an opportunity to streamline payments, improve financial visibility, and operate more confidently in international markets.
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