Skip to main content

Advertisement

Advertisement

Business

Thai digital payments surge from pre-pandemic levels

Thai digital payments surge from pre-pandemic levels

People wearing face masks shop for street food in Bangkok, Thailand on Jan 6, 2021. (Photo: Reuters/Athit Perawongmetha)

BANGKOK: Digital payments in Thailand have quadrupled from pre-pandemic levels, the central bank said on Monday (Oct 11), as the Southeast Asian country's longest-running wave of infections accelerates demand for online services.

Thailand's latest outbreak started in April, accounting for more than 98 per cent 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, Siritida added.

BOOKMARK THIS: Our comprehensive coverage of the COVID-19 pandemic and its developments

Download our app or subscribe to our Telegram channel for the latest updates on the coronavirus outbreak: https://cna.asia/telegram

 

Source: Reuters/zl

Advertisement

Also worth reading

Advertisement