News Forum - Thailand to go cashless by 2028, leads ASEAN in RTP usage

[Thaiger]

Thailand is set to transition to a cashless society more swiftly than its regional counterparts, driven by the nation’s rapid digital adoption and transformation, as per a Visa survey. Visa, a global leader in digital payment services, recently conducted the Consumer Payment Attitude Study, which indicated that Thailand could become a cashless society by 2028. … …

The story Thailand to go cashless by 2028, leads ASEAN in RTP usage as seen on Thaiger News.

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[ChrisS]

That could make it tricky for the Royal Thai Police and national and regional government officials, after all who wants to take a bribe that is traceable.

[Pinetree]

It will never happen.  The rural, market, food stalls, handy man workers and the black economies, all very extensive here, work on cash, often small amounts. I don't see that changing inside the next 10 to 15 years. 

[NonThaiKiwi]

What really peeves me off are the slower than a snail transactions at checkout counters. 

It seems like each party has to scan certain 'quick code' things before it's all cleared. 

Whereas a debit card is tap and go. So much quicker. 

And agree that markets prefer the folding stuff although I have seen some quick codes appearing 

[Augratin]

Cash will continue to flow for a long time while the cashless infrastructure gets rolled out.  Much of Thailand is still developing and many small shops outside of the big cities lack the hardware and internet connectivity to be cashless.

Even famously "cashless" China still allows cash to flow alongside its cashless infrastructure.  A lot of elderly people still want to use cash, and in 2020 the Chinese Govt established fines for businesses that refuse to accept cash.

idk why the embedded hyperlink is disappearing.  Well here it is anyway: https://www.cashmatters.org/blog/chinas-central-bank-defends-the-right-to-pay-cash

Edited October 4 by Augratin
Trying to fix embedded hyperlink