Thailand – Moving Towards a Cashless Society 

Published On - 7 mai, 2018

orbis-admin Actu Orbis, Thailand

The Thai Government has launched a set of new initiatives to improve payment infrastructures and to help make Thailand a less cash-reliant society.

The government-backed scheme, called ‘National e-Payment’ consists of 5 main modules as follows:

  1. PromptPay

PromptPay is a payment alternative allowing the transfer of funds using only a Citizen ID number or phone number instead of full bank account details.

  1. Debit/Credit Cards and EDC Machine Expansion

The aim is to encourage the use of electronic cards (debit/credit cards) instead of cash, and to expand the installation of Electronic Data Capture (EDC) Machines and other mobile point-of-sale (MPOS).

  1. E-Tax System

This third module aims to enable the submission of e-Tax Invoices and e-Receipts to the Thai Revenue Department and more broadly, to record all e-payment transactions into a single taxation data system.

  1. Government Payment & Subsidies

This scheme will facilitate payments to and from state agencies boosting efficiency and support for low-income earners. Direct subsidies and other welfare payments will be able to be made electronically instead of using cheques. Government fees and fines could be paid via electronic channels instead of cash.

  1. Education & Incentive Campaigns

Last but not least, the fifth module will encourage individuals and businesses to make e-payments through tax breaks and other incentives.

 

By Edouard James, Orbis Thailand Consultant.