digital wallet
- Thailand News
Cash-ing in on digital: Thailand handout boosts seniors with 10,000 baht
The Government of Thailand announced the second phase of its digital cash handout, offering 10,000 baht (US$290) to over 4 million citizens aged 60 and above. This initiative, approved by the economic stimulus policy committee, aims to support vulnerable elderly individuals by leveraging a budget of 40 billion baht (US$1.16 billion). The decision follows a meeting chaired by Paetongtarn Shinawatra,…
- Economy News
Finance Ministry cashes in with economic stimulus package
The Finance Ministry is preparing to unveil an extensive economic stimulus package for review by a committee led by Prime Minister Paetongtarn Shinawatra. The announcement was made by Deputy Finance Minister Julapun Amornvivat, who indicated that the proposal includes a 10,000-baht (US$290) cash handout distributed via a digital wallet. This initiative is aimed at stimulating economic activity to bolster growth…
- Thailand News
Thai government urges swift updates for digital wallet distribution
The Thai government confirms that the second phase of the 10,000 baht digital wallet distribution will reach all registered citizens, urging vulnerable groups to rectify any issues promptly to avoid forfeiting their rights. Today, October 26, Jirayu Huangsap, spokesperson for the Prime Minister’s Office, discussed the progress of the 10,000 baht economic stimulus transfer in an interview broadcast on the…
- Thailand News
Thousands miss 10,000 baht digital payout due to outdated IDs
The Ministry of Finance, through the Comptroller General’s Department, has initiated the disbursement of 10,000 baht digital money payout to targeted groups under the 2024 economic stimulus programme. This effort includes those with state welfare cards and persons with disabilities. The payout, which took place on September 25, 26, 27, and 30, reached a significant number of beneficiaries. According to…
- Business News
Cash ‘n’ climb: Thailand GDP rises but 2026 could be a steep drop
Thailand’s GDP forecast has been upgraded for this year and next to 2.8% and 3%, respectively, due to the government’s cash handout boosting the economy. However, analysts warn of an economic cliff in 2026 if no new growth engines are introduced. Kiatnakin Phatra Research (KKP) and BofA Global Research have both raised their Thai GDP outlooks for 2024 from 2.6%…
- Thailand News
Bank policy leaves elderly Buriram couple without government aid
A resident of Ban Silachai in Buriram province sought assistance after finding himself unable to withdraw money using his wife’s ATM card. The resident, 61 year old Tuk Sae Ho’s wife Jamlong, also 61, has been bedridden for over a year and unable to care for herself. When Tuk attempted to withdraw funds from the bank, he discovered that the…
- Business News
Thailand cash handout to boost Q4 GDP growth despite challenges
The Thai government’s initial cash handout is anticipated to boost the national economy in the upcoming months, according to industrial leaders and brokerages. They recommend that the second phase of the handout target individuals with higher purchasing power to prolong economic stimulation. In the first phase, the government distributed 10,000 baht in cash to each of the 14.5 million welfare…
- Business News
Thailand unveils 145 billion baht cash handout to boost economy
Deputy Finance Minister Paopoom Rojanasakul unveiled a whopping 145 billion baht ((US$4.4 billion) cash handout scheme that promises to rev up the economy before the year’s end. This mega injection is set to turbocharge the nation’s GDP by a tidy 0.3 percentage points. And it’s not just a flash in the pan, the economic boost is expected to keep rolling…
- Thailand News
Khon Kaen resident loses 16,800 baht to phone scam
A resident of Khon Kaen lost 10,000 baht from her government assistance money to a phone scam, which also took an additional 6,800 baht from her health volunteer allowance. Visarut Pupeng, an advisor to the Deputy Minister of Education, assisted Buathong, a 63 year old resident of Chum Phae district, Khon Kaen province, in filing a police report with Police…
- Thailand News
Thai man assaults wife over digital wallet failure in Udon Thani
A Thai man in the Isaan province of Udon Thani physically assaulted his wife yesterday out of frustration after failing to receive 10,000 baht from the digital wallet scheme. The wife sustained a bloody wound to her head. Officers from Mueang Udon Thani Police Station, and rescuers from the Song Serm Dhamma Satarn Foundation, yesterday, September 30, rushed to a…
- Thailand News
Anti-drunk driving group urges no alcohol spending of 10,000-baht handout
Anti-drunk driving campaigners have called on recipients of the government’s 10,000-baht cash handout to avoid spending the money on alcohol to prevent accidents. Phattarabhandhu Krissana, chairman of the Network of Victims Against Drunk Driving, emphasised that the funds should be used for necessities or investments instead of alcoholic beverages, which could lead to accidents and disabilities. The Network of Victims…
- Thailand News
Elderly man loses 10,000 baht from Thai govt handout
An elderly man who recently withdrew 10,000 baht in cash from the Thai government’s handout initiative found his wallet missing, prompting a heartfelt community response. A woman’s Facebook post detailed the incident and led to numerous offers of assistance from across the country. The government recently issued 10,000 baht to vulnerable groups, distributed based on the last digits of their…
- Phuket News
Gypsy cash dash: Phuket locals swarm ATMs for 10k baht handout
Hundreds of sea gypsies in Phuket flocked to ATMs at Laem Tukkae, Koh Sirey, Ratsada subdistrict on Wednesday, September 25, as part of the Thai government’s 10,000 baht handout scheme for vulnerable citizens. The scheme, aimed at state welfare cardholders and disabled individuals, is part of a broader economic stimulus programme. A national report noted that the sea gypsies, still…
- Thailand News
Recipients can use 10,000-baht handout to clear debts: Deputy PM
Recipients of the 10,000-baht handout are free to use the money as they see fit, including paying off debts, according to Deputy Prime Minister Phumtham Wechayachai. Phumtham addressed reports that many eligible individuals in the first phase of the scheme, which began yesterday, September 26, plan to use the funds to clear their debts. “They can use the money [to…
- Thailand News
Thailand digital wallet handout falls short: Woman gets only 4,000
A Thai woman attempting to withdraw 10,000 baht for her father, as part of the Thai government’s digital wallet handout for vulnerable groups and people with disabilities, received only 4,000 baht, sparking suspicions of debt deductions by the bank. In Uthai Thani province, the government commenced disbursing 10,000 baht to vulnerable groups and those with disabilities. From early morning, recipients…
- Thailand News
Thailand starts 10,000-baht handout to 3 million needy individuals
Three million needy and disabled individuals in Thailand will receive the 10,000-baht handout under the government’s digital wallet programme today, announced Deputy Finance Minister Julapun Amornvivat. This initial rollout is part of a larger initiative aimed at aiding 14.5 million recipients in total. Due to limitations with the PromptPay payment system, only 3 million recipients can be processed initially. These funds…
- Thailand News
Digital wallet scheme falls short of 45 million target, saves 100 billion baht
Online registrations for the government’s digital wallet handout scheme have recently closed, with only 36 million people signing up, falling short of the 45 million target. The Finance Ministry reported that this shortfall has resulted in a saving of 100 billion baht (US$3 billion) from the project’s budget. When asked whether the lower registration numbers indicated a lack of public…
- Thailand News
Less than 40 million Thais expected to join digital wallet scheme
The Government of Thailand anticipates fewer than 40 million participants in its flagship digital wallet handout scheme, with the initial phase set to benefit 14.5 million vulnerable individuals starting yesterday, according to a Finance Ministry official. Under this stimulus programme, the government plans to distribute 450 billion baht to 45 million people, with each registered participant receiving 10,000 baht to…
- Thailand News
Digital wallet delay: No green light before year-end
The highly anticipated second phase of Thailand’s digital wallet initiative is on ice, with Deputy Prime Minister and Finance Minister Pichai Chunhavajira revealing that it’s unlikely to roll out before the end of the year. In a brief meeting with the press today, Pichai highlighted the need for a cautious approach, stressing that factors like timing and continuity must be…
- Thailand News
Digital wallet to the rescue: PM bets on cashing in for Thailand’s economy
Prime Minister Paetongtarn Shinawatra firmly believes that the government’s policy, particularly the digital wallet handout programme, will act as a significant catalyst to regenerate the flailing economy of Thailand. This policy will be officially presented to Parliament over two days, starting tomorrow, as mandated by the constitution, before the government can begin its work. The 38 year old Paetongtarn plans…
- Thailand News
Thailand government includes cash options in 10,000-baht handout
The Thailand government’s 10,000-baht handout programme is set for adjustments, with Deputy Finance Minister Julapun Amornvivat acknowledging the need to include cash distributions for some recipients instead of digital money. Numerous petitions against the government’s flagship policy contributed to this decision, Julapun said yesterday. Additionally, feedback from various sectors has prompted changes to improve the programme’s effectiveness. Initially, the policy…
- Thailand News
Thailand to launch digital money handout in two weeks
The coalition government is set to initiate its policy implementation, including the digital money handout scheme, in two weeks, according to caretaker Deputy Prime Minister Phumtham Wechayachai. However, Phumtham did not specify when the revised Cabinet line-up will be submitted for royal endorsement. He indicated that nominations from all coalition parties had been reviewed by state organisations and forwarded to…
- Business News
Thai central bank may cut rates if digital wallet delayed
The Bank of Thailand might be compelled to reduce the policy rate earlier than anticipated if the new government opts to postpone the digital wallet policy slated for the fourth quarter. Analysts warn this delay could significantly impact the Thai economy. Despite the central bank’s Monetary Policy Committee (MPC) maintaining the rate at 2.5% last week, BofA Securities highlighted that…
- Thailand News
Digital wallet scheme may be delayed to next fiscal year
The 10,000-baht digital wallet scheme faces potential postponement until the next fiscal year starting October 1 if not implemented by next month, according to the Budget Bureau. Bureau Director Chalermphol Pensoot stated that the details of the cash handout policy would need to be revisited once the new Cabinet is formed. The initiative, promising 10,000 baht to up to 50…
- Thailand News
Digital wallet scheme may switch to cash to boost economy
The Budget Bureau chief confirmed that funds from the digital wallet scheme could be distributed as cash, provided the original goal to stimulate the economy is maintained. Chalermphol Pensoot stated that the distribution of 10,000 baht through the digital wallet scheme could continue, depending on the new government’s policies. “Distributing cash instead of digital money is not an issue, as…
- Thailand News
Future of 10,000-baht digital wallet in doubt after PM dismissal
Srettha Thavisin’s dismissal as prime minister cast significant doubt over the future of the much-publicised digital wallet scheme, with the ruling Pheu Thai Party and the Cabinet providing conflicting messages about the flagship policy’s direction. Concerns are also mounting among the public regarding the potential misuse of personal information collected for the 10,000-baht handout. A constitutional court order on Wednesday…
- Thailand News
Buriram residents fear digital wallet could be axed after PM ousted
Buriram residents and local vendors are increasingly anxious following the Thai Constitutional Court’s surprise decision to oust Prime Minister Srettha Thavisin. The major concern is the potential scrapping of the 10,000-baht digital wallet scheme, a key economic boost initiative from the Pheu Thai Party. The Buriram municipal market is buzzing with worry as many dread that the much-anticipated digital wallet…
- Politics News
Fate of digital wallet scheme unclear after Srettha’s departure
The future of the 10,000 baht digital wallet scheme has become unclear after the departure of former Prime Minister Srettha Thavisin. The Pheu Thai Party secretary-general insisted that it would continue, while the former deputy finance minister expressed doubts. The Constitutional Court, yesterday, August 14, removed former PM Srettha from office following a serious violation of political ethics. The former…
- Thailand News
Thailand launches price cuts to boost economy before digital wallet
The Ministry of Commerce, in collaboration with 150 manufacturers, retailers, and government agencies, is launching a nationwide price reduction event to alleviate living costs and stimulate the economy before the digital wallet launch. Deputy Prime Minister Phumtham Wechayachai announced that the Ministry of Commerce invited government agencies, consumer goods manufacturers, wholesale and retail chains, the Thai Retailers Association, and other…
- Thailand News
Minister clarifies tax concerns for digital wallet programme
Deputy Minister of Finance Julapun Amornvivat insists that sales data from stores participating in the digital wallet programme will not be submitted to the Revenue Department, but stores must file taxes if their sales increase significantly. Julapun addressed concerns yesterday from merchants about joining the digital wallet programme due to tax issues. He assured that the Ministry of Finance would…
