The Journey to Less-Cash Society:Thailand’s Payment System at a Crossroads

BOT Symposium 2018

Tana PothikamjornSiam Commercial Bank

Transaction cost differs greatly by channel

฿50 ฿7 ฿1.5

Cost of cash transactions ฿1.26 per transaction ฿0.34 per note

Digital customers are shifting transactional behaviors significantly

Non-digital customer Digital customer

Branch ATM Online

3x

Feel-free…

Promptpay transactions have grown significantly after fee-free campaign

Jan

-17

Feb

-17

Mar

-17

Ap

r-1

7

May

-17

Jun

-17

Jul-

17

Au

g-1

7

Sep

-17

Oct

-17

No

v-1

7

Dec

-17

Jan

-18

Feb

-18

Mar

-18

Ap

r-1

8

May

-18

Jun

-18

Jul-

18

Consumer well-adopt QR code payment as well

Jan'18 Feb'18 Mar'18 Apr'18 May'18 Jun'18 Jul'18 Aug'18 Sep'18 (F)

7

mPesa demonstrated a strong success case for mobile payment in unbanked environments

8

Bank close loop mobile payment solutions rolled out to limited adoption

SCBUP2ME

DBSPayLah!

BarclaysPingIt

CBA Kaching

9

The non-bank e-wallet providers followed suit with limited adoption

10Chinese platforms showed dominant positions in mobile payments

11

“all under one heaven”

payment experience….

Various payment use cases are needed to grow digital paymentsA

do

pte

d

Scan to pay Cross-bank bill payment

Pay Alert(Request to Pay)

eWalletPromptpay

B Scan C Contactless

Co

min

g

QR on Web

tax…

cryptocurrency?

Disrupt on..

tana.pothikamjorn@scb.co.th