Thailand is deep into its digital transformation, moving away from cash towards new payment types such as contactless payments, BNPL and cross-border solutions:
- One of the world’s largest markets for RTPs, reflected in domestic payments and mobile wallets being 26% and 29% respectively
- Thailand’s national QR system, PromptPay, is fully interoperable for cross-border payments with Malaysia, Singapore, Cambodia and Vietnam
- As a major tourist destination, investing in cross-border solutions will be advantageous in sales
In 2024:
82% of all ecommerce transactions in Thailand were made using digital payments
By 2029:
Thailand’s ecommerce market is projected to increase by 143% to reach US$ 33 billion
88% of ecommerce transactions are expected to be made using digital payments.