Thailand Cards and Payments: Opportunities and Risks to 2028

Thailand Cards and Payments: Opportunities and Risks to 2028

Summary

GlobalData’s ‘Thailand Cards and Payments: Opportunities and Risks to 2028' report provides detailed analysis of market trends in the Thailand cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, cash, cards, direct debits and cheques during the review-period (2020-24e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2024e-28f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

GlobalData’s ‘Thailand Cards and Payments: Opportunities and Risks to 2028' report provides top-level market analysis, information and insights into the Thailand cards and payments industry, including -

• Current and forecast values for each market in the Thailand cards and payments industry, including debit, credit and charge cards.
• Detailed insights into payment instruments including credit transfers, cash, cards, direct debits and cheques . It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing the Thailand cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Thailand cards and payments industry.

Key Highlights

• Digital banks are likely to increase the competition in Thailand’s banking sector as the government issues new licenses; thereby enhancing financial inclusion, as well as helping to boost debit card uptake. In March 2024, the Bank of Thailand (BoT) issued guidelines regarding digital banking licenses in Thailand. The BoT has laid out a comprehensive framework for issuing virtual banking licenses which aims to enhance financial inclusion. The country is gearing up to launch virtual banking services by 2025. This will result in an increase in the banked population, while also helping to boost debit card adoption.
• To further expand payment infrastructure in the country, payment companies and fintech firms are rolling out new POS solutions to merchants. In July 2024, Qashier launched the QashierPay Soundbox; a QR payment terminal for SMEs. The terminal enables merchants to accept QR-code-based payments from their customers. Similarly, the Singaporean payment services provider NETS launched NETS SoftPOS in August 2024. This solution allows merchants to accept contactless payments using their Android smart devices; eliminating the need for traditional payment terminals. This includes payments via QR codes and mobile apps from various banking and wallet apps in Thailand.
• The rising adoption of contactless card payments for transport services will support growth in the card payment space. For example, in March 2023, United Overseas Bank (UOB) introduced a Tap & Go contactless payment service to its debit card holders at all Mass Rapid Transit (MRT) stations in Bangkok and Nonthaburi Provinces; allowing the bank’s card holders to make payments by simply tapping on the contactless payment card reader at the ticket gates. Earlier in February 2022, Mastercard partnered with the MRT Authority of Thailand and Krungthai Bank to roll out a Tap & Go payment solution for commuters at Bangkok MRT.

Scope

• Card market size in terms of number of cards, value and volume of transactions in Thailand along with detailed card segmentation of debit, credit and charge cards available in the country.
• Market sizing and analysis of major payment instruments including credit transfers, cash, cards, direct debits and cheques.
• Payment market trends and growth for both historical and forecast period
• Competitor analysis with detailed insights into leading card issuers and schemes.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• A detailed snapshot of country's key alternative payment brands.

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the Thailand cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Thailand cards and payments industry.
• Assess the competitive dynamics in the Thailand cards and payments industry.
• Gain insights into marketing strategies used for various card types in Thailand.
• Gain insights into key regulations governing the Thailand cards and payments industry.