Commerce Ministry to finalise digital wallet registration

The Commerce Ministry will finalise the registration of two million vendors for the digital wallet handout scheme by September, marking a significant step in the initiative aimed at boosting the economy.

Commerce Minister Phumtham Wechayachai announced that up to two million vendors are expected to participate in the scheme.

The ministry plans to disclose more details next week regarding the participating stores and the steps eligible recipients must take to receive and spend the digital handout.

Phumtham stated that sellers joining the initiative include approximately 40,000 to 50,000 stores under the Thai Retailers Association, 150,000 Blue Flag shops, 5,000 Blue Flag food stalls, and around 400,000 street food vendors under local administrative organisations.

“The vendor database has been sent to the Digital Government Agency to be compiled within a central database.”

Registration for eligible recipients via smartphones will run from August 1 to September 15. For those in vulnerable groups, verification will require a national identity card with assistance from a caretaker. Further details on this process will be released soon.

Next, both eligible individuals and shops will need to verify and authenticate their identities, a process expected to be completed by October.

The subcommittee responsible for overseeing the scheme’s implementation has instructed the Commerce Ministry to review the banned product list, a ministry spokesperson said.

“To date, there is no further amendment to the list. However, any update to the list would be based on the results of a public hearing and legislation.”

The digital wallet handout scheme is designed to stimulate economic activity by enabling registered vendors to accept digital payments from recipients of the handout. The success of this initiative hinges on the effective registration and verification of both vendors and recipients, ensuring that the benefits reach the intended parties, reported Bangkok Post.

In related news, the 122 billion baht digital wallet scheme budget was approved by the House of Representatives, in a vote held late yesterday, July 25.