digital wallet
- 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 to speed up 145 billion baht digital wallet handout
Thailand will advance the distribution of 145 billion baht from its digital wallet handout programme to support vulnerable groups, announced by the deputy finance minister yesterday. The decision aims to provide immediate economic stimulus in the short term. During a budget debate in the senate, Julapun Amornvivat revealed that the government has allocated 450 billion baht for this flagship handout…
- 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…
- Politics News
Digital wallet scheme to offer cash option for vulnerable groups
The digital wallet policy conundrum, promoted by the Pheu Thai Party, has taken a new turn, with vulnerable residents potentially receiving 10,000 baht in cash rather than digital currency. Following the leadership change, rumours about the possible cancellation of the digital wallet scheme raised concern among those eagerly anticipating the funds. Many were worried that the new Prime Minister Paetongtarn…
- 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…
- Business News
Wallet watch: Thai restaurants hungry for details on digital handout
Restaurant owners are on tenterhooks, waiting for vital details on the government’s digital wallet handout scheme. The Thai Restaurant Association reveals that operators are eagerly anticipating specifics on how they can use and convert digital cash. President Thaniwan Kulmongkol says restaurateurs are frustrated by the delay, as the Commerce Ministry has scrapped the August 5 press conference meant to explain…
- 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…
- Thailand News
10,000-baht scheme will go ahead: PM’s future ‘baht’ a problem
The Government of Thailand confirmed that the implementation of the 10,000-baht digital money handout scheme will proceed regardless of Prime Minister Srettha Thavisin’s political future. This assurance comes amid concerns over the Thai premier’s potential dismissal due to a legal challenge. The 62 year old Thai PM’s position is under scrutiny due to a motion submitted by 40 senators. They…
- Thailand News
10.5 million sign up for Thailand’s digital wallet scheme in six hours
More than 10.5 million people signed up for the eagerly anticipated digital wallet scheme within the first six hours of its registration opening yesterday. This number surpassed initial expectations, according to Deputy Finance Minister Julapun Amornvivat. However, he also clarified that not all who registered will qualify for the benefits, as eligibility will be determined after a review period, with…
- Thailand News
Digital wallet scheme sees 5.8 million registrations in three hours
Registration for the digital wallet scheme surged to 5.8 million people within just three hours. Officials expected the number to hit 7 million by noon today, following the government’s launch of a scheme allowing citizens to claim 10,000 baht via a digital wallet through the Tang Rat application on smartphones. This initiative, open from today, August 1 to September 15,…
- Thailand News
Tang Rat app crashes amid rush for 10,000 baht digital wallet
The Tang Rat application crashed as numerous people rushed to download and verify their identities ahead of the registration for the 10,000 baht digital wallet set to begin tomorrow, August 1. It was reported today that the government, through the Ministry of Digital Economy and Society (MDES) and the Ministry of Finance, will open the registration for the 10,000 baht…
- Thailand News
Pheu Thai confident digital wallet bill will pass final House readings
Pheu Thai Party expresses confidence that its supplementary bill, designed to fund the flagship digital wallet handout scheme, will pass the House’s second and third readings tomorrow. A Pheu Thai MP-list and chief government whip, Wisut Chainaroon, asserted that the bill will pass due to the digital wallet scheme igniting new hope among the public. The final deliberation of the…
- Business News
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…
- Thailand News
Thailand launches 10,000 baht digital wallet registration tomorrow
The Thai government will launch a new digital wallet initiative, allowing citizens to receive 10,000 baht through a simple registration process starting tomorrow, July 25. This initiative, managed by the Ministry of Finance, aims to stimulate the economy in the fourth quarter of the year. Between tomorrow and mid-September, citizens can register for the digital wallet via the Tang Rat…
- Thailand News
House approves 122 billion baht digital wallet scheme budget
The House of Representatives approved a supplementary bill to increase the budget for the current fiscal year by 122 billion baht, in a vote held late yesterday. This additional funding aims to partially finance the government’s digital wallet handout scheme. A total of 297 MPs voted in favour of the bill, while 164 opposed it, with no abstentions recorded. Among…
- Thailand News
Thailand restaurant market to hit 400 billion baht in 2024
Central Restaurants Group (CRG) anticipates a 5% sales growth in 2024, driven by the digital wallet handout scheme, while Thailand’s restaurant market value is projected to reach 400 billion baht this year. Nath Vongphanich, CRG President, addressed the ruling Pheu Thai Party’s upcoming 10,000-baht digital wallet handout scheme, expected to launch in the fourth quarter. He mentioned that the company…
- Thailand News
Thailand’s digital wallet disaster: MFP oppose budget
Opposition parties have taken a firm stand against the supplementary budget bill, targeting the controversial digital wallet scheme. Estimated at a staggering 450 billion baht, the scheme is criticised for its alleged inefficacy in boosting the GDP and potential legal issues, which could set a detrimental precedent for future national budgeting and fiscal policies. Sirikanya Tansakul, Deputy Leader of the…
- Thailand News
PM Srettha’s 122 billion baht budget boost to stimulate economy
Prime Minister Srettha Thavisin launched the first reading of an additional budget for fiscal 2024, earmarking a whopping 122 billion baht for economic stimulus through the digital wallet scheme. Addressing the House, the Thai Premier outlined the government’s plan to disburse a 10,000-baht digital handout, aimed at enhancing the quality of life and generating job opportunities. “We cannot afford to…
- Thailand News
Thailand excludes groups from digital wallet project
The Government of Thailand decided to exclude two specific groups from participating in the 10,000-baht digital wallet project. This announcement comes as they prepare to release the registration timeline for the project tomorrow. The Deputy Minister of Finance, Chulaphan Amornvivat, disclosed the decision following a meeting at the Government House. The meeting also addressed the sources of funding for the…
- Thailand News
Digital wallet woes: PM Srettha quizzed in Parliament by MFP
Prime Minister Srettha Thavisin faced intense scrutiny in Parliament yesterday over the government’s digital wallet handout scheme, marking his first significant confrontation with the opposition since taking office. Deputy leader of the main opposition Move Forward Party, Sirikanya Tansakul, challenged the 62 year old PM on the digital wallet programme and the government’s economic strategy. She acknowledged the PM’s presence…
- Thailand News
Thailand slashes digital wallet budget amid corruption fears
The Thai government has decided to slash the budget for its digital wallet scheme from 500 billion baht to 450 billion, scrapping plans to borrow 170 billion baht from the Bank for Agriculture and Agricultural Cooperatives (BAAC). Deputy Finance Minister Julapun Amornvivat announced the decision yesterday, July 10, citing corruption concerns raised by the National Anti-Corruption Commission (NACC). Julapun revealed…
- Thailand News
Thailand delays legal advice on digital wallet funding
The Thailand government has not yet sought legal advice from the Council of State regarding the use of funds from the Bank for Agriculture and Agricultural Cooperatives (BAAC) to partially finance the digital wallet scheme, confirmed Pakorn Nilprapunt, Secretary-General of the Council. Pakorn clarified that the government does not need to consult the council if it plans to use money…
- Thailand News
Scam SMS targets digital wallet users with PM Srettha’s photo
Scam gangs are exploiting interest in the government’s digital wallet programme by sending fraudulent SMS links featuring a photo of Prime Minister Srettha Thavisin. Numerous residents in Roi Et province have already fallen victim to this scam, according to government spokesperson Chai Watcharonke. He explained that the deceptive messages contain a link claiming to direct recipients to a site where…
- Thailand News
Thailand’s digital wallet budget faces review
A portion of Thailand’s 2025 national budget designated for the government’s digital wallet scheme is likely to be reconsidered by the special House Committee vetting the budget bill within the next couple of weeks, according to Deputy Finance Minister Julapun Amornvivat. Julapun, who serves as vice chairman of the 72-member committee, commented on the panel’s decision to suspend scrutiny over…
