How does the Prompt Pay system work for transferring money in Thailand?

Prompt Pay is a payment system in Thailand that allows users to transfer money using a linked phone number. In order for the receiver to receive their money, they must have previously linked their bank account to their mobile number through the Prompt Pay registration. The process is designed for instant transfers, so the money goes directly into the receiver's bank account as soon as the transaction is processed. Users noted that if their banking app is malfunctioning, there are alternative ways to initiate transfers, though limitations may exist depending on the app's functionality.