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Thailand Country Report

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  • Published Date: July 2020

A comprehensive overview of the cards, payments and consumer banking market in Thailand.

Thailand's payments market is robust and increasingly technology-led, with consumers responding positively to government policies promoting digital and cashless payments. Card use is growing, with issuers investing in rewards programmes, promotional campaigns and cashback schemes, supported by the rise of internet and mobile banking. QR code payments and digital wallets are proving increasingly popular while PromptPay, the instant payment scheme launched in 2017, has seen transaction volumes soar from around $11bn in 2017 to$442bn by the end of 2019.

What you will learn from this Thailand payments research report:

  • How the government and other payment stakeholders are working together to promote digital payments.
  • Which credit card market segment is proving lucrative.
  • What card tie-ups and reward schemes appeal to consumers
  • Who is gaining share in debit cards

THAILAND CARDS & PAYMENTS REPORT | KEY FACTS

  • Thailand's banking and payments market is rapidly developing, with financial inclusion increasing and cash use on the decline.
  • The central bank and bankers' association are leading a strategic plan with the goal of creating a modern and inclusive digital society.
  • An instant payments platform, PromptPay, launched in 2017, has proven popular: there were 50 million registered users at the end of 2019.
  • Payment by QR code is on the rise, with a standardised format rolled out in 2017 that the card networks, banks, PromptPay and other payment providers all now support.
  • The number of POS terminals in the market almost trebled from 2013 to 2019, helping to increase payment card purchase volume.
  • The credit card user base remains small at just 12 per cent of adults and is focused increasingly on the Premium segment.
  • The market is closely regulated, with caps on credit card limits and interest rates and a relatively large minimum payment requirement of ten per cent.
  • The international card networks have adapted to regulations requiring all domestic debit card transactions to be processed on local schemes. Market leader Visa obtained a licence to operate its own domestic network.
  • Mastercard and UnionPay have partnered with local schemes to comply with the regulation. The latter has grown its market share significantly in recent years.

Thailand Payments Research | Report Contents

Key facts
Demographics and the economy
Payments environment
Cards market
Mobile payments
Profit pool
The networks
Key retail banks and issuers
Acquiring and processing
Online acquiring
Regulatory and other cards market information
Appendices: Data

Appendix I: Demographics and the economy

  • Demographic and economic indicators
  • Ownership of key consumer devices
  • Internet usage by population


Appendix II: Payments environment

  • Access points
  • Account penetration
  • Consumer payment trends
  • B2C e-commerce payment methods


Appendix III: Cards market

  • Total cards payment metrics
  • Credit card numbers
  • Total credit cards metrics
  • Credit cards profitability indicators
  • Debit cards numbers
  • Debit cards metrics
  • ATM-only cards numbers
  • Prepaid/e-money cards metrics


Appendix IV: Mobile payments

  • Mobile P2P payments

Appendix V: Profit pool

  • Profit pool

Appendix VI: The networks

  • Networks' credit card market shares
  • Networks' credit card numbers
  • Networks' credit card billed volume
  • Networks' number of credit card transactions
  • Networks' average credit card transaction value
  • Networks' debit card market shares
  • Networks' debit card numbers
  • Networks' debit card billed volume
  • Networks' number of debit card transactions
  • Networks' average debit card transaction value


Appendix VII: Key retail banks and issuers

  • Key credit card issuers market shares by credit card numbers
  • Key issuers market shares in credit card outstandings
  • Key debit card issuers market shares by debit card numbers


Appendix VIII: Acquiring and processing

  • Merchant acquirer credit card market share
  • Credit card merchant service charges
  • Merchant acquirer debit card market share
  • Debit card merchant service charges
  • Credit card issuer/issuing processor relationships
  • Credit card acquirer/acquiring processor relationships
  • Credit card issuing processor market shares by card numbers
  • Credit card acquiring processor market shares by number of POS transactions


Appendix IX: Online acquiring

  • Online merchant acquirer market share

Thailand Payments Trends | Entities Referenced

2C2P
AEON Credit Service
AEON Thana Sinsap
Alibaba Group
AliPay
American Express
Amway
ASEANPay
AsiaPay
AsiaPay
Bangkok Bank
Bank of Ayudhya
Bank of China
Bank of Thailand
Bank of Tokyo-Mitsubishi UFJ
BC Global
BeWallet.
Big C
Big Camera
Caf&Aelig; Amazon
Carrefour
Citibank
DinaCard
Diners Club
Discover
Emporium,
EmQuartier
Facebook
FitbitPay
Galeries Lafayette
Grab
Harrods
IT City
JCB
JD Central
Jusco
KAITAI Technology
Kasikornbank
Kentucky Fried Chicken
Krungsri Bank
Krungsri Consumer Finance Group
Krungthai Card
Lazada
LINE
Liquid Group
Makro
Mastercard.
MaxValu
Merchant iPay
Mitsubishi UFJ Financial Group
National Interbank Management and Exchange
Nium
PAObank
Paragon Mall
PayDollar
PayPal
PaysBuy
Peninsula Bangkok hotel
PizzaHut
Power Buy
PromptCard
PromptPay
Razer
Revolut
Ripple
RuPay
Samyan Mitrtown
SCB
Selfridges
Shopee
Siam Commercial Bank
Siam Takashimaya
SiamPay
Stock Exchange of Thailand
TaradPay.
Tesco Lotus
Thai Airways
Thai Airways
ThaiePay
Thailand Post
The Mall
The Waldorf Astoria
Tourism Authority of Thailand
Trade and Development Bank of Mongolia
UnionPay International
Visa
WeChat Pay
Wooricard
WorldPay

MORE ASIA-PACIFIC CARDS & PAYMENTS REPORTS

Verisk financial reports include detailed market and competitor intelligence on payments cards, e-money, acquiring, retail banking, and consumer credit in the Asia Pacific region. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and finance experts.

See more Asia-Pacific Country Reports or explore the full range of cards and payments reports available for 72 markets worldwide.

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