Digital wallet scheme’s third phase to start in second quarter
The third phase of the 10,000 baht digital wallet distribution initiative is set to start in the second quarter of the year, according to Finance Minister Pichai Chunhavajira. Pichai, who also serves as the Deputy Prime Minister, mentioned that the system for fund distribution is undergoing testing this month and is expected to be fully operational in time for the third phase launch.
Deputy Finance Minister Julapun Amornvivat previously indicated that this phase would utilise an open-loop payment system, designed to interface with various financial institutions across the country.
Eligible participants for this phase of the programme include people 16 to 59 years old who are registered through the Thang Rat app. To qualify, they must have an annual income below 840,000 baht (US$24,830) and savings of less than 500,000 baht (US$14,780) in all bank accounts.
A survey conducted by the National Institute of Development Administration (NIDA) revealed that the second phase of the scheme, which provided 10,000 baht (US$295) to elderly citizens, affected their support for the government.
The poll, conducted nationwide from February 3 to February 5 with 1,310 respondents aged 60 and above, showed that nearly 45% indicated the programme influenced their government support.
Around 31% of respondents stated they would continue to support the government regardless of the programme, while 14% expressed they would not support the government under any circumstances. Approximately 10% were undecided.
Regarding the utilisation of the 10,000 baht cash handout, 86% of respondents used it for daily expenses, including utility bills and petrol. Other expenditures included health-related expenses (26%), debt repayment (14%), and savings for future needs (12%).
Additional spending included purchasing goods for resale (9%), education expenses (9%), buying lottery tickets (4%), electrical appliances (2%), mobile phones or IT devices (1%), travel expenses, and entertainment including alcohol or cigarettes (each less than 1%), reported Bangkok Post.
The survey also highlighted the demographic breakdown of respondents: 69% were aged 60 to 69, 28% were 70 to 79, and 3% were 80 or older.
In terms of occupation, 47% were housewives, house husbands, retirees, or unemployed, 21% were farmers or fishermen, 17% were business owners or freelancers, 15% were labourers, and less than 1% were employed, with 41% reporting no income.
Latest Thailand News
