Thailand: Digital payments surge from pre-coronavirus level

• Oct 11, 2021

Digital payments have quadrupled from pre-pandemic levels, the Bank of Thailand said on Monday, as the country’s longest-running wave of infections accelerates demand for online services.

Thailand’s latest outbreak started in April, accounting for more than 98% of its Covid-19 cases and deaths, prompting tougher restrictions in July and August that reduced mobility.

The number of daily transactions made via the PromptPay platform currently averaged 28 million, which is “quite a big jump” from pre-pandemic levels, Assistant Governor Siritida Panomwon Na Ayudhya told a news conference.

Average daily transactions were just 7 million in 2019 and rising to 14.5 million in 2020, central bank data showed.

As there are new financial services and investments during the pandemic, the financial sector post-Covid-19 will transform towards more digital services and faster, Ms Siritida added.

Source: https://www.bangkokpost.com/business/2196023/digital-payments-surge-from-pre-coronavirus-level