Search Results for: digital money
- Thailand News
Thailand persists with 10,000-baht digital money giveaway to reboot economy
The Thailand government is standing firm on its decision to proceed with the 10,000-baht digital money giveaway, despite various calls for its reconsideration. The government maintains that while the specifics of the project can be tweaked, the fundamental principle of using it as a tool to reboot the economy remains steadfast. According to Deputy Prime Minister Phumtham Wechayachai, the Thai…
- Thailand News
Thai state bodies unite to curb money laundering via digital assets
In an unprecedented act of collaboration, five Thai state bodies are colluding to tackle illicit fiscal operations and money laundering across national frontiers, reveals Traisuree Taisaranakul, the deputy government spokeswoman. The cooperative pact encompasses the Royal Thai Police (RTP), the Revenue Department, the Securities and Exchange Commission (SEC), the Anti-Money Laundering Office (Amlo), and the Bank of Thailand (BoT). Traisuree…
- Visa Information
Do you qualify for a digital nomad visa?
Is it your dream to travel the world? But is money an issue that keeps you chained to your desk at work? Well, as the world becomes increasingly interconnected and remote work continues to gain popularity, many countries have started offering digital nomad visas. These visas allow remote workers to live in a country for an extended period while working…
- Travel
Thailand for digital nomads: Your ultimate guide
Thailand beckons digital nomads with its irresistible mix of vibrant culture, stunning landscapes, and a cost of living that won’t break the bank. It’s a place where you can seamlessly blend work with exploration, offering the perfect backdrop for your remote working lifestyle. Is Thailand good for digital nomads? Thailand stands out as a top pick for digital nomads. Its…
- Thailand News
Finance minister: Digital wallet funds to exclude mobile phones
Deputy Finance Minister Julapun Amornvivat urged the Commerce Ministry to reconsider its decision to permit recipients of the 10,000-baht payout from the digital wallet scheme to use the funds on mobile phones. He argued that this move would not benefit the domestic economy as intended. Prime Minister Srettha Thavisin shares these concerns, noting that most mobile phones are either manufactured…
- Thailand News
eCommerce growth and digital payment trends in Thailand
As the second-largest digital economy in Southeast Asia, Thailand is seeing a significant shift in consumer purchasing habits due to these technological advancements, including the increasing adoption of digital payment methods. This article explores the current state of eCommerce, popular digital payment methods, and the opportunities they present for digital marketers. eCommerce Growth in Thailand Thailand’s eCommerce sector is thriving,…
- Thailand News
How to make money as a freelancer in Thailand
Thailand, charactersed by its dynamic culture and picturesque natural landscapes, is not solely a tourist hotspot but also a country of considerable potential. If you aspire to a lifestyle that marries remote work with the opportunity to engage in local traditions, as well as the possibility to accrue savings, Thailand may well be your ideal destination. In this country, the…
- Thailand News
Investigation links foreign elites in Thailand to money laundering
The Central Investigation Bureau (CIB) is currently investigating foreign nationals residing in Thailand under elite visas, suspected of engaging in shady business transactions and money laundering. This investigation was initiated following the disclosure of 52 year old Chinese suspect, Chen, who utilised a Thailand Privilege Card visa to reside in the country and launder substantial sums of money for call…
- Guides
10 Signs you’re spending money wrong
In a world where the allure of instant gratification often overshadows the virtue of financial prudence, it’s alarmingly easy to fall into the trap of mismanaging one’s finances. The subtle art of spending money wisely is lost on many, leading to a cycle of financial strain that seems inescapable. Recognising the signs of poor spending habits is the first step…
- Guides
Essential steps to financial mastery in the digital age
Embarking on a journey to excel in the finance sector presents an exhilarating opportunity, replete with abundant prospects and some challenges. Whether one is transitioning from academia or contemplating a career shift, understanding the essential steps towards success in the realm of finance is paramount. A combination of comprehensive education, practical experience, and strategic planning positions individuals for a rewarding…
- Business News
Thai government changes funding approach for digital wallet project
Prime Minister Srettha Thavisin’s coalition government has made a crucial change to its flagship scheme, a digital wallet project aiming to distribute 10,000 baht (US$270) to 50 million Thais. The government has switched from borrowing funds, which faced severe criticism and raised concerns about possible violations of financial and fiscal discipline regulations, to using money from the annual expenditure budget.…
- Thailand News
Thai government considers borrowing to fund digital wallet scheme
The Thai government will consult with the Council of State to clarify whether it can borrow 172.3 billion baht from the Bank for Agriculture and Agricultural Cooperatives (BAAC) to partially fund its digital wallet scheme. This decision was made at a coalition party meeting held yesterday where the implementation of the Pheu Thai Party’s proposed 500-billion-baht (US$13.6 billion) scheme was…
- Thailand News
Thai govt’s digital wallet handout scheme faces legal queries
The Thai government plans to launch its main digital wallet handout scheme in the year’s final quarter. This plan’s timeline will be more concrete post-April 10 when the digital wallet policy committee convenes, says Deputy Finance Minister Julapun Amornvivat. A sum of 500 billion baht has been set aside for the scheme, tentatively slated for a May launch. However, expectations…
- Business News
Bitcoin hits US$50,000 milestone, crypto market on a digital rollercoaster
Bitcoin, the largest digital asset, oscillated around the landmark value of US$50,000, a level it hadn’t touched in over two years. This marks a remarkable resurgence following the various cryptocurrency scandals and industry wipeouts that had previously cast a shadow of uncertainty over the sector’s future. Yesterday, in the United States, Bitcoin’s value soared to an impressive US$50,328, and it…
- Business News
SET index may drop below 1,300 due to digital wallet handout
The Stock Exchange of Thailand (SET) index could potentially plummet below the 1,300-point mark this year, warns the CEO of One Asset Management (ONEAM), Pote Harinasuta. This alarming projection is associated with the government’s proposed digital wallet handout which could result in Thailand’s credit rating being downgraded and a subsequent hike in corporate borrowing costs. Key factors that could influence…
- Thailand News
Thai economy experts predict 3% growth despite digital wallet scheme delay
Leading economist Somchai Phakapaswiwat foresees a 3% economic growth despite the government’s 500-billion baht handout scheme‘s potential delay. Renowned economist Somchai Phakapaswiwat set tongues wagging yesterday, January 22, when he confidently declared that Thailand’s economic trajectory remains unscathed, poised for an impressive 3% growth, despite uncertainties surrounding the government’s 500-billion baht handout scheme. According to Somchai, the delay in the…
- Thailand News
Thai government to stimulate economy with digital wallet scheme
The Thai government reaffirmed its commitment to launch the digital wallet scheme in May, a key policy of the ruling Pheu Thai Party. The scheme, financed by a 500 billion baht (US$14,518,005,000) loan, aims to inject 10,000 baht (US$290) into the digital wallet of every Thai citizen aged 16 and above as a means to stimulate the economy. The government…
- Thailand News
Thai govt’s 500 billion baht digital wallet scheme awaits legal review
The Thai government’s bill proposing a loan of 500 billion baht to fund the 10,000-baht digital wallet scheme is yet to be reviewed by the Council of State for its legality, according to the council’s secretary-general, Pakorn Nilprapunt. This came as a rebuttal to Deputy Prime Minister Phumtham Wechayachai’s previous statement that the loan bill was under the council’s vetting…
- Events
DeeMoney partners with SCB to facilitate secure cross-border money transfers, expanding access to the Myanmar market
Sawasdee Shop Co., Ltd., operating as a fintech company, introduced the DeeMoney platform, a robust Thai cross-border transaction system supporting over 26 currencies across 50 countries globally. This company has solidified a business partnership with Siam Commercial Bank, announcing their collaboration to enhance the money transfer service from Thailand to Myanmar. The focus lies in developing cross-border money transfer services…
- Thailand News
Thailand’s digital wallet loan bill yet to reach Council of State
Deputy Prime Minister Phumtham Wechayachai announced yesterday that a proposed bill, which aims to secure a loan of 500 billion baht for the digital wallet scheme, has not been presented to the Council of State yet. The revelation came after the digital wallet policy committee meeting, where numerous issues were discussed. Despite the Council of State’s readiness to scrutinise the…
- Thailand News
Government counters MFP allegations over 10,000 baht digital handout scheme
A counter-strike against the Move Forward Party’s (MFP) allegations has been launched by the government, concerning the unlikely reception of its 10,000 baht digital money handout. The opposition party has claimed that the government, with the details of the scheme unveiled on Friday, is attempting to backpedal on its promise of financial assistance. Prime Minister Srettha Thavisin rebuked MFP Deputy…
- Thailand News
Thai government to finance digital wallet scheme with 500 billion baht loan
The Thai government has plans to secure a loan of 500 billion baht to finance a digital wallet scheme, revealed Prime Minister Srettha Thavisin. This digital wallet scheme is targeted towards Thai citizens who are 16 years and older, earning less than 70,000 baht per month with less than 500,000 baht in bank deposits. The 61 year old Thai prime…
- Thailand News
Digital wallet boost: Thai government to inject 600,000 million baht into economy
The government is set to inject 600,000 million baht into the economy through the well-documented digital wallet initiative. This programme will provide 10,000 baht to Thai citizens aged 16 and above, with an income not exceeding 70,000 baht and savings of no more than 500,000 baht. The initiative, set to run for six months, will be applicable within the citizen’s…
- Thailand News
Thai government to reveal details of contested 10,000-baht digital wallet scheme
The Thai government is set to disclose the specifics of its contentious 10,000-baht digital wallet scheme distribution today. Prime Minister Srettha Thavisin, in response to critics who argue the initiative could inflict more economic damage than benefit, will conduct a news conference at 2pm today to elucidate all aspects of the policy. The 61 year old Thai prime minister has…
- Thailand News
Thai PM backs deputy amid criticism over 10,000-baht digital wallet plan
Thai Prime Minister Srettha Thavisin stood firm against criticisms levelled at his deputy, Julapun Amornvivat, concerning his capacity to chair the governmental sub-committee responsible for the roll-out of the 10,000-baht digital wallet handout initiative. Responding to requests for a more equipped individual to hold the chairmanship, PM Srettha stated unequivocally in a message on platform X (formerly Twitter), that he “won’t…
- Crime News
Online gambling suspect’s ‘catch of the day’ as police net him for digital deceit in northern Thailand
A 45 year old suspect under an arrest warrant from the Southern Bangkok Criminal Court, was apprehended by the police in Nakhon Ratchasima yesterday around 8.40pm. The charges relate to his involvement in an online gambling gang, deceiving the public by impersonating others and maliciously manipulating computer systems to show false information, potentially harming the public. The suspect, Wanchai, confessed…
- Thailand News
NACC probes Thai government’s 10,000-baht digital handout amid corruption fears
The National Anti-Corruption Commission (NACC) initiated an in-depth study into the Thai government’s policy for a 10,000-baht digital currency handout. This step comes as the agency intensifies its examination of the key policies of the ruling Pheu Thai Party. According to a source within the NACC, the decision was made following a suggestion from the agency’s corruption monitoring and appraisal…
- Thailand News
Thailand refines 10,000-baht digital handout eligibility amid wealth exclusion fears
Prime Minister Srettha Thavisin announced that the government is developing criteria to determine eligibility for a 10,000-baht digital money handout amid speculation that affluent individuals might be exempted from the scheme. The prime minister, also serving as finance minister, stated that the government is refining the scheme following recommendations from diverse sectors. “I am listening to opinions. There will be…
- Thailand News
Thai PM dismisses rumours of expensive Super App for digital currency scheme
Thailand Prime Minister Srettha Thavisin quashed rumours yesterday regarding the development of a new application for the country’s forthcoming 10,000-baht digital currency handout scheme. Speculation had been rife that an affiliate of property behemoth Sansiri Plc was to develop the new digital wallet application, named Super App, at a whopping cost of 12 billion baht. However, the 61 year old…
- Economy News
Thai ‘super app’ set to launch with 10,000-baht digital wallet scheme
The completion of a multi-purpose mobile application, or super app, is on track for early next year, coinciding with the launch of the 10,000-baht digital wallet initiative, as announced by Deputy Finance Minister Julapun Amornvivat. The mobile app is designed as a comprehensive solution, with developers assuring its readiness for the digital wallet scheme’s rollout, expected between February and March…
