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สถาบันวิจัยเศรษฐกิจป๋วย อึ๊งภากรณ์
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Call for Papers: PIER Research Workshop 2025
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25 December 2018
20181545696000000
No. 101

The Journey to Less-Cash Society: Thailand's Payment System at a Crossroads

Abstract

Digital technology is changing the way we transact and pay each other, but cash usage remains dominant in many countries. In Thailand, it remains a question whether and to what extent electronic payments (e-payment) can replace cash. What is the role of a central bank amid challenges and opportunities at this crossroads? The paper explores global trends in cash and e-payment and outlines Thailand's existing retail payment landscape. Both physical and IT/ICT infrastructure are assessed at micro-level with regard to Thailand's readiness to move away from cash. However, given coexistence of cash and e-payment at present, we explore ways in which efficiency of cash management process can be improved. Data on cash distribution by geographical area are utilized to illustrate usage of Thai consumers and identify costs and inefficiency associated with cash management. On the other hand, adoption of e-payment can play a critical role in moving toward a less-cash society, if not a cashless one. The paper highlights the latest data on e-payment behavior in Thailand, especially PromptPay transactions as well as mobile/internet transactions after the transfer fee reduction in March 2018.

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JEL: D12E42G28O33
Tags: cashpayment transactionscashless
The views expressed in this workshop do not necessarily reflect the views of the Puey Ungphakorn Institute for Economic Research or the Bank of Thailand.
Atchana Lamsam
Atchana Lamsam
Bank of Thailand
Jaree Pinthong
Jaree Pinthong
Bank of Thailand
Chonnakan Rittinon
Chonnakan Rittinon
Puey Ungphakorn Institute for Economic Research
Aniya Shimnoi
Aniya Shimnoi
Bank of Thailand
Phuriwat Trakiatikul
Phuriwat Trakiatikul
Bank of Thailand

Puey Ungphakorn Institute for Economic Research

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Phone: 0-2283-6066

Email: pier@bot.or.th

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