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 next year. Not all app functionalities will be operational immediately but will be activated as required. Certain features will be accessible for the scheduled registration next month.

Deputy Finance Minister Julapun stated that vendors outside the formal tax network cannot convert their digital wallet funds into cash. However, they can use their balance for purchases from other vendors within the tax system.

Julapun further indicated that the scheme will cost less than the projected 560 billion baht (US$15.4 billion), as the number of eligible recipients aged 16 and above is estimated to be around 54.8 million, rather than the initial figure of 56 million. He also pointed out that some individuals have expressed no intention to participate in this scheme.

Commerce Minister Phumtham Wechayachai announced that the prime minister received the list of members for two sub-committees under the digital wallet policy committee for approval.

The sub-committees on public opinions and legal issues will be headed by Nikorn Chamnong, director of the Chartthaipattana Party, and Wutthisarn Tanchai, secretary-general of King Prajadhipok’s Institute (KPI) respectively.

Minister Phumtham emphasised the government’s intention to use public feedback to refine the scheme, which he believes is crucial for stimulating the economy.

However, the digital wallet initiative has drawn criticism from Democrat acting leader Jurin Laksanawisit. He criticised Prime Minister Srettha Thavisin for urging supporters to counteract criticism of the policy. Jurin argued that critics have a right to voice their concerns as it is their money that the 61 year old Thai PM plans to spend. He also disapproved of PM Srettha’s efforts to rally public support for the contentious policy, reported the Bangkok Post.

“People didn’t call for the handout of 10,000 baht (US$275) from the start.”

Jurin added that “a political party floated the policy to lure voters’ support during the election campaign, and it must implement and take responsibility too.”

Follow more of The Thaiger’s latest stories on our new Facebook page HERE.