The Journey to Less-Cash Society: Thailand's Payment System at a Crossroads
Aniya Shimnoi and
Additional contact information
Atchana Lamsam: Bank of Thailand
Jaree Pinthong: Bank of Thailand
Chonnakarn Rittinon: Bank of Thailand
Aniya Shimnoi: Bank of Thailand
Phuriwat Trakiatikul: Bank of Thailand
PIER Discussion Papers from Puey Ungphakorn Institute for Economic Research
Digital technology is changing the way we transact and pay each other, but cash usage remains dominant in many countries. In Thailand, it remains a question whether and to what extent electronic payments (e-payment) can replace cash. What is the role of a central bank amid challenges and opportunities at this crossroads? The paper explores global trends in cash and e-payment and outlines Thailand's existing retail payment landscape. Both physical and IT/ICT infrastructure are assessed at micro-level with regard to Thailand's readiness to move away from cash. However, given coexistence of cash and e-payment at present, we explore ways in which efficiency of cash management process can be improved. Data on cash distribution by geographical area are utilized to illustrate usage of Thai consumers and identify costs and inefficiency associated with cash management. On the other hand, adoption of e-payment can play a critical role in moving toward a less-cash society, if not a cashless one. The paper highlights the latest data on e-payment behavior in Thailand, especially PromptPay transactions as well as mobile/internet transactions after the transfer fee reduction in March 2018.
Keywords: Cash; Payment Transactions; Cashless (search for similar items in EconPapers)
JEL-codes: D12 E42 G28 O33 (search for similar items in EconPapers)
Pages: 53 page
Date: 2018-12, Revised 2018-12
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Published in PIER Discussion Paper Series
Downloads: (external link)
https://www.pier.or.th/wp-content/uploads/2018/12/pier_dp_101.pdf Published version, 2018 (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:pui:dpaper:101
Access Statistics for this paper
More papers in PIER Discussion Papers from Puey Ungphakorn Institute for Economic Research Contact information at EDIRC.
Bibliographic data for series maintained by PIER ().