Thailand Cards & Payments: Opportunities and Risks to 2022

Thailand Cards & Payments: Opportunities and Risks to 2022

Summary

GlobalData’s 'Thailand Cards & Payments: Opportunities and Risks to 2022' report provides detailed analysis of market trends in the Thai cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, direct debits, credit transfers, cards, and cheques during the review-period (2014-18e).

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 (2018e-22f). It also offers information on the country's competitive landscape, including the 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 details of regulatory policy and recent changes in the regulatory structure.

GlobalData’s 'Thailand Cards & Payments: Opportunities and Risks to 2022' report provides top-level market analysis, information and insights into the Thai cards and payments industry, including -
- Current and forecast values for each market in the Thai cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including cash, cheques, direct debits, credit transfers, and cards. 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 the Thai cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Scope

- The government aims to improve financial inclusiveness in the country. In July 2018, Bank of Thailand and the Thai Bankers’ Association collaborated with 14 commercial banks and two government banks (Government Savings Bank and Bank for Agriculture and Agricultural Cooperatives) to offer fee-free basic bank accounts for low-income individuals holding a government welfare card and for elderly individuals aged over 65. Meanwhile, the agent banking regulation was amended in March 2018, allowing banks to appoint new types of agents (such as convenience stores) to offer basic banking services, including deposits, money transfers, and cash withdrawals. In October 2018, Government Savings Bank partnered with 7-Eleven to offer banking services at 10,000 7-Eleven stores in Thailand.
- To accelerate electronic payments in Thailand, the central bank collaborated with American Express, JCB International, Mastercard, UnionPay International, Visa, and other financial services providers to introduce the Thai QR Code Payment standard in August 2017. The aim is to create an open, interoperable infrastructure through which customers can make payments. The new system expands electronic payment options for both merchants and consumers. The standard will cut costs for merchants, as they will no longer need multiple QR codes or to invest in dedicated POS terminals. By the end of 2018, 3 million merchants were accepting payments as part of this system.
- In line with the government’s push towards a less cash-dependent society, four major Thai banks - Bangkok Bank, SCB, Kasikornbank, and Krungthai Bank - waived fees on all digital transactions from April 2018. According to Bangkok Bank, the number of transactions via its mobile banking channel doubled in 2018. The fee waiver led to accelerated growth in SCB’s number of digital users, which almost doubled to 9 million at the end of 2018. To meet the growing consumer preference for mobile banking, in February 2019 United Overseas Bank revealed plans to launch mobile-only brand TMRW in Thailand. A pilot program has been rolled out to 1,500 customers.

Reasons to buy

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