Most in Thailand already using Digital Payments

Thai consumers are typically more enthusiastic about using digital forms of payments than the average for Asia, according to Mastercard.
Most Thai consumers have now gone digital when it comes to managing a range of personal financial matters, including paying bills, banking, opening new bank accounts and financial planning, a Mastercard survey has found.

Based on the Mastercard New Payments Index 2022, 81% of consumers in the country have used digital tools for at least one financial task in the last year, with paying bills (78%), banking (75%) and opening new bank accounts (64%) forming the top three.

The latest data on payment habits, attitudes and preferences was derived from a survey of 40 markets across five regions, including seven in Asia-Pacific: Australia, China, India, Japan, New Zealand, Thailand and Vietnam.

Interestingly, when it came to personal financial management, the survey found that Thai consumers were typically more enthusiastic about using digital forms of payments than the regional average.

This same enthusiasm extended to Thai consumers’ broader use of payments, with 94% having used at least one digital payment method such as digital wallets, QR codes, Buy Now Pay Later (BNPL), cryptocurrencies, biometrics and others in the last year, compared to the Asia-Pacific average of 88%.

As well, 80% of Thai consumers increased their usage of at least one digital payment method during the same period, demonstrating momentum.

“Although digitisation brings a broad array of benefits — greater access to e-commerce, more economic transparency, more security — in many ways it is in the everyday tasks where it makes a big difference,” said Aileen Chew, country manager for Thailand and Myanmar at Mastercard.

“In recent years, Thai consumers have increased their usage of digital payment options, often showing high engagement with new and emerging technologies. The survey results indicate that this comfort extends beyond payments, and now includes daily personal financial management, demonstrating the pervasiveness of digital technology in their everyday lives.

“This change is a positive sign for the continued digitisation of the economy, and will help to spur long term, sustainable growth in Thailand.”

When asked about their reasons for using digital methods to pay bills, convenience was the top response (85%) from Thai consumers, followed by the fact that it was seen as more secure or safe (61%), and that it gave consumers more control over their money (56%).

However, concerns remain about security, indicating an opportunity for service providers to offer consumers additional education and reassurance.

Thai consumers are also among the most enthusiastic in the region about using emerging payment technologies, with digital wallets leading (63%), followed by account-to-account payments (55%) and QR codes (54%), the survey found.

Also notable is that Thai consumers have been strong adopters of cryptocurrencies, with 25% using them to pay in the last year, compared to the regional average of 13%.

Source - BangkokJack

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“Amazing Trusted Thailand” – tourism rebrands

The Ministry of Tourism and Sports of Thailand has plans to rebrand tourism in the post-coronavirus era to “Amazing Trusted Thailand”. Aimed at selective markets and destinations in the country. Locations that can guarantee health and safety standards for both tourists and locals.

“We estimate international markets will return in October. All related agencies are working on a proper recovery plan that won’t risk a second wave of the coronavirus. Especially after our proven record of effective coronavirus control during the first wave,” said Tourism Authority of Thailand (TAT) governor Yuthasak Supasorn.

“Prime Minister Prayut Chan-o-cha suggested we use this opportunity to rebrand Thai tourism. Above all as a quality destination where we care more about trust than carrying capacity.”

He said the makeover features three combinations of new and old tourism concepts. Including an effective and recognized public health system. Also a unique and outstanding gastronomy and culture, and natural beauty and Thai people.

With Thailand looking to exit lockdown this month, TAT is preparing a strategy for the second stage. Matching foreign countries that were removed from the list of “Disease-Infected Zones.” Furthermore with select provinces that never reported coronavirus infections. Or provinces that have not had a new case in the past 28 days.

Thailand tourism ministry conducting surveys nationwide

“Our plan to open up for international tourists will not be the same as the plan for locals. In the near future, a discussion between Thailand and targeted countries will be necessary. Especially before any exchange of tourists.

Thailand and other countries are worried about the coronavirus pandemic. Countries don’t want to send their citizens here and have them bring the coronavirus back,” said Mr Yuthasak.

Islands such as Phuket or Samui may be the first batch of destinations to welcome international tourists. Above all as their geography allows authorities to more easily control and track of tourists.

He said the agency also plans to introduce the International Tourists Bridge project. It was adapted from the Georgia tourism model, which aims at attracting high-end foreign tourists. Rich tourists from the European Union, the UK and North America.

Thailand is also looking at high spenders within the region, such as Singapore, China and Vietnam. Enticing them to visit designated areas in Thailand under a quota.

Tourists to supply fit-to-fly certificates

These tourists can visit selected destinations without being subjected to 14-day quarantine measures. However they have to provide health certification, fit-to-fly certificates and buy health insurance before visiting Thailand. Rapid Covid-19 testing will also be available upon arrival.

The agency will provide tourism safety standards for the Safety and Health Administration at every touch point. It will also track digital platforms to manage the flow of tourists.

Tourism and Sports Minister Phiphat Ratchakitprakarn said the ministry plans to discuss the tourism rehabilitation plan with Gen Prayut this week and propose the plan to the cabinet meeting next week.

The plan requires 10-20 billion baht from the 400-billion-baht budget used for economic rehabilitation projects after the outbreak.

In a meeting on Monday between the Tourism and Sports Ministry and chairman of the TAT board, Thosaporn Sirisumphand, the TAT was approved to revise this year’s foreign arrivals target to 14-16 million. The outlook for domestic trips was projected at 100 million, with total revenue of 1.23 trillion baht.

Source: Chiang Rai Times / Bangkok Post

Thaiand - Rescue bid tipped over next few days

Leaders of the rescue effort at Tham Luang cave in Chiang Rai are considering whether it will be practical to bring out the 12 trapped young footballers and their coach from the flooded cave over the next few days. 

It would be "favourable" to stage an evacuation before fresh rain and a possible rise in carbon dioxide sets in, according to former Chiang Rai governor Narongsak Osotthanakorn who has been put in charge of the rescue operation. 

 "Now, water in the cave is down to satisfactory levels and the weather is fine. The boys' health has begun to improve and they have now learned the basics of diving," said Mr Narongsak, who is now Phayao governor.

"In the next two or three days, the conditions may be perfect to carry out the rescue plan,'' he told reporters yesterday afternoon. 

 The main concern is now the level of oxygen in the cave, Mr Narongsak said, adding that more clean air has been fed into the cave and more oxygen tanks have been brought in.
The number of rescuers operating in the cave complex will now be kept to a minimum to preserve oxygen and prevent a possible increase in carbon dioxide, Mr Narongsak said.
However, at least four rescuers will be sent in to look after the 12 boys and their coach who are sheltering on the ledge called Nern Nom Sao, he said.
Mr Narongsak added that two more British cave diving experts have arrived in Chiang Rai to support the rescue bid and another two from Britain will come today.

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#Thailand to require foreign tourists to buy health insurance

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BANGKOK,  (UPI) -- Lawmakers in Thailand say they want all foreign tourists to be required to purchase travel and health insurance before arriving in their country.

Thailand's Public Health Ministry Wednesday proposed the measure during a meeting with representatives from the Airports of Thailand, Royal Thai Police and other government ministries, the Bangkok Post reported.

The health ministry has suggested the cost of health insurance coverage might be included in visa fees, Public Health Minister Pradit Sinthawanarong said at the meeting. Those visiting Thailand without visas would be required to buy insurance at immigration checkpoints or the fees could be added to the cost of airline tickets.

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