Top Mobile Payment Service Providers in Thailand 2020 and their Reaction to the COVID-19 Crisis

Report Tells of Increase in Online Payments in Thailand During Pandemic

The COVID-19 pandemic prompted the increase use of the top three E-payment service platforms in Thailand

The user base of the most commonly used digital payment service providers has significantly increased since the outbreak in 2020. Despite the fact that the subscriber numbers had increased in 2019, they went up, even more, this year, as consumers have moved to online purchasing. The report tells how E-payment service providers partnered with various other platforms in order to stimulate cashless purchasing behavior and to invite customers to online paying methods.

E-Commerce in Thailand increased substantially with the onset of the pandemic

In 2019, Thailand had an emerging E-Commerce market with its average per capita annual online spending being the highest among other neighboring countries in Southeast Asia. In 2020, E-Commerce continues to increase and the value of digital payments is estimated to grow by the end of the year, as reported in the publication.

Top Payment service platforms in Thailand worked closely with Thai banks to support social-distancing users

Due to the lockdown in the country and imposed restrictions, Thai consumers shifted to a new lifestyle with cashless transactions. Digital payment service providers in collaboration with Thai banks initiated different measures to simplify finance-related operations for their customers, such as the reduction of documents number required for opening a bank account, an opportunity to settle utility or credit card bills via an E-wallet and more seamless ways to transfer/receive funds or withdraw money.

Report Coverage

• This report covers the Thai payment market with a focus on the reaction of the top Mobile Payment Service Providers to the COVID-19 outbreak. It includes information related to payment methods used, transaction volumes, payment trends and recent COVID-19 related news of the top Mobile PSP’s in Thailand.
• The report focuses on the strategies adopted by Thai Mobile PSP’s during the COVID-19 pandemic. Information related to both remote and in-store payments.
• The data in our reports is from sources mostly published in the previous 12 months. The exact date of publication of the source is stated on each chart. The time period which the data refers to differs by source.

Report Structure

• The overview chapter opens the report, featuring a summary of the payments market in Thailand. The latest trends and developments are summarized on the text charts and data highlights are provided on quantitative charts.
• The rest of the report is divided by the top three Mobile PSP’s presented in the descending order of total users. Within each chapter, there is a company profile, as well as text charts with relevant news and quantitative charts.
• Depending on data availability, the following types of market information are included: value and/or volume of transactions, number of users, payment methods used in-store and online, COVID-19’s impact on the PSPs.
• Not all the mentioned types of information are provided for each of the covered Payment Service Providers due to varying data availability.

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