Dublin, Aug. 26, 2020 (GLOBE NEWSWIRE) -- The "Thailand Cards and Payments - Opportunities and Risks to 2024" report has been added to ResearchAndMarkets.com's offering.
The report provides detailed analysis of market trends in Thailand's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, credit transfers, cards, direct debits, and cheques during the review-period (2016-20e).
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 (2020e-24f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report identifies segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
This report provides top-level market analysis, information and insights into Thailand's cards and payments industry, including:
- Current and forecast values for each market in Thailand's cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including cash, credit transfers, cards, direct debits, and cheques. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing Thailand's cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
Market Highlights
The central bank is taking steps to promote digital payments in the country. It launched Payment Systems Roadmap No.4 (2019-2021), which is a continuation to the previously introduced Payment Systems Roadmap and National E-Payment Master Plan. The new plan aims to further develop digital payments between 2019 and 2021. Key areas emphasized by the roadmap include creating an interoperable payment infrastructure, developing a biometric standard for authentication of identities, developing a cross-border payment and fund transfer service, and promoting widespread usage of digital payments.
The lack of payment acceptance infrastructure has made the adoption of alternative payment methods compelling. QR code payments have thus gained prominence in Thailand, and are driving electronic payments. In May 2017, Mastercard, UnionPay, and Visa introduced the Thai QR Code payment system. The feature was also integrated into the PromptPay service in the last quarter of 2017. This system enables merchants to receive payments more easily in a cost-effective manner. As of August 2019 over 5 million merchants had accepted payments via QR codes in Thailand, up from 3 million in December 2018. To further promote this option, in February 2020 the central bank announced plans to introduce QR code payments for cross-border transactions to Singapore, Myanmar, and Cambodia. The service is expected to launch in Q3 2020.
COVID-19 has created stress across financial markets worldwide. In response, central banks are accelerating efforts to support the economy by slashing interest rates and boosting liquidity. In April 2020 the central bank introduced a new guideline called Credit Assistance Measures for credit card loans. As per the guidelines, the minimum payment rate on credit card loans was reduced from 10% to 5% to December 2021.
Key Topics Covered
- Payment Instruments
- Card-based Payments
- E-commerce Payments
- Alternative Payments
- Payment Innovations
- Payments Infrastructure & Regulation
- Appendix
Companies Mentioned
- Bangkok Bank
- Kasikornbank
- Krungsri Bank
- Krungthai Bank
- Thai Payment Network
- Mastercard
- SCB
- TMB Bank
- Visa
- Samsung Pay
- PayPal
- Masterpass
- Rabbit LINE Pay
- PromptPay
- BluePay
For more information about this report visit https://www.researchandmarkets.com/r/tvwqci
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