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Country Report

Financial Cards and Payments in

Financial Cards and Payments in Thailand

Nov 2020

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Executive Summary

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

COVID-19 impact on consumer payments

Significant declines were seen in transactions value across all categories of financial cards and payments over the course of 2020 as the COVID-19 pandemic took its toll on commercial activity of all types across Thailand. There were two main outcomes of the COVID-19 pandemic of specific relevance for financial cards and payments.

COVID-19 country impact

On 13 January 2020, Thailand became the first country outside of China to confirm a case of COVID-19. The first case involving local transmission of the virus was reported on 31 January.

Credit regulations are eased as the bank Thailand supports struggling borrowers

The second quarter of 2020 saw the Bank of Thailand announce reductions in the interest rates applied to all types of consumer credit agreements. This was undertaken in an effort to support the many Thai businesses and individuals struggling to cope with significantly diminished incomes due to the COVID-19 pandemic, specifically the absence of foreign tourists in the country for an extended period during the year.

Development of communications infrastructure promises to revolutionise financial cards and payments

Recent years have seen considerable improvement in Thailand’s internet networks and related telecommunications infrastructure, with the first phase of the rollout of the country’s new 5G network during the first half of 2020 the culmination of these efforts. Thailand is the first of the ASEAN countries to deploy a 5G mobile telecommunications network and while the initial aim was to have approximately 13% of the country’s total population covered by 5G by the end of the year, the COVID-19 pandemic has slowed the development of the requisite infrastructure, with the project progressing much more slowly than initially anticipated.

Fragmentation and intense competition remain the industry’s defining elements

The competitive environment in Thailand’s financial cards and payments industry remains particularly intense. This can be attributed mainly to the high levels of fragmentation on the issuer side, as well as the increasingly wide range of options on the operator side in various categories.

What next for consumer payments?

One positive impact of the COVID-19 pandemic on Thailand’s financial cards and payments industry is that there has been a significant increase seen in the numbers of people who have engaged with alternatives to cash. Initially, this was largely due to concerns over the hygiene implications of using cash as a payment method, specifically the possibility that one will receive one’s change in banknotes and coins that have been contaminated with the COVID-19 virus.

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Overview

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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Financial Cards and Payments industry in Thailand with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Financial Cards and Payments industry in Thailand, our research will save you time and money while empowering you to make informed, profitable decisions.

The Financial Cards and Payments in Thailand market research report includes:

Analysis of key supply-side and demand trends
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Financial Cards and Payments in Thailand?
What are the major operators and issuers in Thailand?
How will regulation impact the market?
What is the current state of emerging payment technologies such as mobile commerce?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Financial Cards and Payments in Thailand, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.

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Financial Cards and Payments in Thailand - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Credit regulations are eased as the bank Thailand supports struggling borrowers

Development of communications infrastructure promises to revolutionise financial cards and payments

Fragmentation and intense competition remain the industry’s defining elements

What next for consumer payments?

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2015-2020
Table 2 Number of ATMs: Units 2015-2020
Table 3 Value Lost to Fraud 2015-2020
Table 4 Card Expenditure by Location 2020
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2015-2020
Table 6 Domestic versus Foreign Spend 2020

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2015-2020
Table 8 Financial Cards by Category: Number of Accounts 2015-2020
Table 9 Financial Cards Transactions by Category: Value 2015-2020
Table 10 Financial Cards by Category: Number of Transactions 2015-2020
Table 11 Consumer Payments by Category: Value 2015-2020
Table 12 Consumer Payments by Category: Number of Transactions 2015-2020
Table 13 M-Commerce by Category: Value 2015-2020
Table 14 M-Commerce by Category: % Value Growth 2015-2020
Table 15 Financial Cards: Number of Cards by Issuer 2015-2019
Table 16 Financial Cards: Number of Cards by Operator 2015-2019
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2015-2019
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2015-2019
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2020-2025
Table 20 Forecast Financial Cards by Category: Number of Accounts 2020-2025
Table 21 Forecast Financial Cards Transactions by Category: Value 2020-2025
Table 22 Forecast Financial Cards by Category: Number of Transactions 2020-2025
Table 23 Forecast Consumer Payments by Category: Value 2020-2025
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2020-2025
Table 25 Forecast M-Commerce by Category: Value 2020-2025
Table 26 Forecast M-Commerce by Category: % Value Growth 2020-2025

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Summary 1 Research Sources

Charge Cards in Thailand - Category analysis

KEY DATA FINDINGS

2020 IMPACT

A declining category faces further disruption due to COVID-19

The need to repay full outstanding balance monthly works against charge cards

American Express steps up its focus on offering attractive rewards

RECOVERY AND OPPORTUNITIES

The prospects remain dismal for charge cards

Commercial charge card slated for stronger declines than personal charge cards

CATEGORY DATA

Table 27 Charge Cards: Number of Cards in Circulation 2015-2020
Table 28 Charge Cards Transactions 2015-2020
Table 29 Charge Cards in Circulation: % Growth 2015-2020
Table 30 Charge Cards Transactions: % Growth 2015-2020
Table 31 Commercial Charge Cards: Number of Cards in Circulation 2015-2020
Table 32 Commercial Charge Cards Transactions 2015-2020
Table 33 Commercial Charge Cards in Circulation: % Growth 2015-2020
Table 34 Commercial Charge Cards Transactions: % Growth 2015-2020
Table 35 Personal Charge Cards: Number of Cards in Circulation 2015-2020
Table 36 Personal Charge Cards Transactions 2015-2020
Table 37 Personal Charge Cards in Circulation: % Growth 2015-2020
Table 38 Personal Charge Cards Transactions: % Growth 2015-2020
Table 39 Charge Cards: Number of Cards by Issuer 2015-2019
Table 40 Charge Cards: Number of Cards by Operator 2015-2019
Table 41 Charge Cards Payment Transaction Value by Issuer 2015-2019
Table 42 Charge Cards Payment Transaction Value by Operator 2015-2019
Table 43 Commercial Charge Cards: Number of Cards by Issuer 2015-2019
Table 44 Commercial Charge Cards: Number of Cards by Operator 2015-2019
Table 45 Commercial Charge Cards Payment Transaction Value by Issuer 2015-2019
Table 46 Commercial Charge Cards Payment Transaction Value by Operator 2015-2019
Table 47 Personal Charge Cards: Number of Cards by Issuer 2015-2019
Table 48 Personal Charge Cards: Number of Cards by Operator 2015-2019
Table 49 Personal Charge Cards Transaction Value by Issuer 2015-2019
Table 50 Personal Charge Cards Transaction Value by Operator 2015-2019
Table 51 Forecast Charge Cards: Number of Cards in Circulation 2020-2025
Table 52 Forecast Charge Cards Transactions 2020-2025
Table 53 Forecast Charge Cards in Circulation: % Growth 2020-2025
Table 54 Forecast Charge Cards Transactions: % Growth 2020-2025
Table 55 Forecast Commercial Charge Cards: Number of Cards in Circulation 2020-2025
Table 56 Forecast Commercial Charge Cards Transactions 2020-2025
Table 57 Forecast Commercial Charge Cards in Circulation: % Growth 2020-2025
Table 58 Forecast Commercial Charge Cards Transactions: % Growth 2020-2025
Table 59 Forecast Personal Charge Cards: Number of Cards in Circulation 2020-2025
Table 60 Forecast Personal Charge Cards Transactions 2020-2025
Table 61 Forecast Personal Charge Cards in Circulation: % Growth 2020-2025
Table 62 Forecast Personal Charge Cards Transactions: % Growth 2020-2025

Credit Cards in Thailand - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Strong declines expected in credit card transactions in 2020

Easing of credit regulations promises to ease debt burden on credit card borrowers

The number of credit cards in circulation increases slightly during 2020

RECOVERY AND OPPORTUNITIES

A strong recovery expected for credit cards

Financial relief packages for credit card borrowers could be extended

Testing times ahead for credit card issuers

CATEGORY DATA

Table 63 Credit Cards: Number of Cards in Circulation 2015-2020
Table 64 Credit Cards Transactions 2015-2020
Table 65 Credit Cards in Circulation: % Growth 2015-2020
Table 66 Credit Cards Transactions: % Growth 2015-2020
Table 67 Commercial Credit Cards: Number of Cards in Circulation 2015-2020
Table 68 Commercial Credit Cards Transactions 2015-2020
Table 69 Commercial Credit Cards in Circulation: % Growth 2015-2020
Table 70 Commercial Credit Cards Transactions: % Growth 2015-2020
Table 71 Personal Credit Cards: Number of Cards in Circulation 2015-2020
Table 72 Personal Credit Cards Transactions 2015-2020
Table 73 Personal Credit Cards in Circulation: % Growth 2015-2020
Table 74 Personal Credit Cards Transactions: % Growth 2015-2020
Table 75 Credit Cards: Number of Cards by Issuer 2015-2019
Table 76 Credit Cards: Number of Cards by Operator 2015-2019
Table 77 Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 78 Credit Cards Payment Transaction Value by Operator 2015-2019
Table 79 Commercial Credit Cards: Number of Cards by Issuer 2015-2019
Table 80 Commercial Credit Cards: Number of Cards by Operator 2015-2019
Table 81 Commercial Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 82 Commercial Credit Cards Payment Transaction Value by Operator 2015-2019
Table 83 Personal Credit Cards: Number of Cards by Issuer 2015-2019
Table 84 Personal Credit Cards: Number of Cards by Operator 2015-2019
Table 85 Personal Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 86 Personal Credit Cards Payment Transaction Value by Operator 2015-2019
Table 87 Forecast Credit Cards: Number of Cards in Circulation 2020-2025
Table 88 Forecast Credit Cards Transactions 2020-2025
Table 89 Forecast Credit Cards in Circulation: % Growth 2020-2025
Table 90 Forecast Credit Cards Transactions: % Growth 2020-2025
Table 91 Forecast Commercial Credit Cards: Number of Cards in Circulation 2020-2025
Table 92 Forecast Commercial Credit Cards Transactions 2020-2025
Table 93 Forecast Commercial Credit Cards in Circulation: % Growth 2020-2025
Table 94 Forecast Commercial Credit Cards Transactions: % Growth 2020-2025
Table 95 Forecast Personal Credit Cards: Number of Cards in Circulation 2020-2025
Table 96 Forecast Personal Credit Cards Transactions 2020-2025
Table 97 Forecast Personal Credit Cards in Circulation: % Growth 2020-2025
Table 98 Forecast Personal Credit Cards Transactions: % Growth 2020-2025

Debit Cards in Thailand - Category analysis

KEY DATA FINDINGS

2020 IMPACT

COVID-19 has a negative impact on debit cards transitions and ATM transactions

Debit cards’ status as in-person payment method means transactions value declines

Fewer debit cards in circulation as COVID-19 inhibits use of this payment method

RECOVERY AND OPPORTUNITIES

A robust recovery expected for debit card transactions

Marketing likely to be the key to securing new debit card customers

Chip and pin revolution set to improve security, making debit cards more appealing

CATEGORY DATA

Table 99 Debit Cards: Number of Cards in Circulation 2015-2020
Table 100 Debit Cards Transactions 2015-2020
Table 101 Debit Cards in Circulation: % Growth 2015-2020
Table 102 Debit Cards Transactions: % Growth 2015-2020
Table 103 Debit Cards: Number of Cards by Issuer 2015-2019
Table 104 Debit Cards: Number of Cards by Operator 2015-2019
Table 105 Debit Cards Payment Transaction Value by Issuer 2015-2019
Table 106 Debit Cards Payment Transaction Value by Operator 2015-2019
Table 107 Forecast Debit Cards: Number of Cards in Circulation 2020-2025
Table 108 Forecast Debit Cards Transactions 2020-2025
Table 109 Forecast Debit Cards in Circulation: % Growth 2020-2025
Table 110 Forecast Debit Cards Transactions: % Growth 2020-2025

Pre-Paid Cards in Thailand - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Social distancing and economic uncertainty suppress the use of pre-paid cards

Open loop pre-paid cards experience a drop in demand due to suppressed spending

Home seclusion underpins negative performance in closed loop pre-paid cards

RECOVERY AND OPPORTUNITIES

Pre-paid cards set to benefit from shift towards cashless society

Pre-paid cards likely to face competition from other payment methods

Promotional campaigns linked to open loop pre-paid cards in bid to boost sales

CATEGORY DATA

Table 111 Pre-paid Cards: Number of Cards in Circulation 2015-2020
Table 112 Pre-paid Cards Transactions 2015-2020
Table 113 Pre-paid Cards in Circulation: % Growth 2015-2020
Table 114 Pre-paid Cards Transactions: % Growth 2015-2020
Table 115 Closed Loop Pre-paid Cards Transactions 2015-2020
Table 116 Closed Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 117 Open Loop Pre-paid Cards Transactions 2015-2020
Table 118 Open Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 119 Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 120 Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 121 Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 122 Pre-paid Cards Transaction Value by Operator 2015-2019
Table 123 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 124 Closed Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 125 Closed Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 126 Closed Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 127 Open Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 128 Open Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 129 Open Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 130 Open Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 131 Forecast Pre-paid Cards: Number of Cards in Circulation 2020-2025
Table 132 Forecast Pre-paid Cards Transactions 2020-2025
Table 133 Forecast Pre-paid Cards in Circulation: % Growth 2020-2025
Table 134 Forecast Pre-paid Cards Transactions: % Growth 2020-2025
Table 135 Forecast Closed Loop Pre-paid Cards Transactions 2020-2025
Table 136 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2020-2025
Table 137 Forecast Open Loop Pre-paid Cards Transactions 2020-2025
Table 138 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2020-2025

Store Cards in Thailand - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Strong double-digit growth in transactions value gives way to double-digit declines

Non-grocery purchases much less likely to be paid for with store cards

Non-grocery retailers respond to falling demand with very generous reward upgrades

RECOVERY AND OPPORTUNITIES

Anticipated economic recovery set to underpin strong performance for store cards

Shift away from cash and towards card payments set to favour store cards

CATEGORY DATA

Table 139 Store Cards: Number of Cards in Circulation 2015-2020
Table 140 Store Cards Transactions 2015-2020
Table 141 Store Cards in Circulation: % Growth 2015-2020
Table 142 Store Cards Transactions: % Growth 2015-2020
Table 143 Store Cards: Number of Cards by Issuer 2015-2019
Table 144 Store Cards: Payment Transaction Value by Issuer 2015-2019
Table 145 Forecast Store Cards: Number of Cards in Circulation 2020-2025
Table 146 Forecast Store Cards Transactions 2020-2025
Table 147 Forecast Store Cards in Circulation: % Growth 2020-2025
Table 148 Forecast Store Cards Transactions: % Growth 2020-2025

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Megatrends

Country Report

Financial Cards and Payments in Thailand

New Report Guarantee

Executive Summary

New Report Guarantee

COVID-19 impact on consumer payments

COVID-19 country impact

Credit regulations are eased as the bank Thailand supports struggling borrowers

Development of communications infrastructure promises to revolutionise financial cards and payments

Fragmentation and intense competition remain the industry’s defining elements

What next for consumer payments?

Overview

Why buy this report?

Samples (FAQs about samples):

Want to find out more about this report?

Table of Contents

Financial Cards and Payments in Thailand - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Credit regulations are eased as the bank Thailand supports struggling borrowers

Development of communications infrastructure promises to revolutionise financial cards and payments

Fragmentation and intense competition remain the industry’s defining elements

What next for consumer payments?

MARKET INDICATORS

MARKET DATA

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Charge Cards in Thailand - Category analysis

KEY DATA FINDINGS

2020 IMPACT

A declining category faces further disruption due to COVID-19

The need to repay full outstanding balance monthly works against charge cards

American Express steps up its focus on offering attractive rewards

RECOVERY AND OPPORTUNITIES

The prospects remain dismal for charge cards

Commercial charge card slated for stronger declines than personal charge cards

CATEGORY DATA

Credit Cards in Thailand - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Strong declines expected in credit card transactions in 2020

Easing of credit regulations promises to ease debt burden on credit card borrowers

The number of credit cards in circulation increases slightly during 2020

RECOVERY AND OPPORTUNITIES

A strong recovery expected for credit cards

Financial relief packages for credit card borrowers could be extended

Testing times ahead for credit card issuers

CATEGORY DATA

Debit Cards in Thailand - Category analysis

KEY DATA FINDINGS

2020 IMPACT

COVID-19 has a negative impact on debit cards transitions and ATM transactions

Debit cards’ status as in-person payment method means transactions value declines

Fewer debit cards in circulation as COVID-19 inhibits use of this payment method

RECOVERY AND OPPORTUNITIES

A robust recovery expected for debit card transactions

Marketing likely to be the key to securing new debit card customers

Chip and pin revolution set to improve security, making debit cards more appealing

CATEGORY DATA

Pre-Paid Cards in Thailand - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Social distancing and economic uncertainty suppress the use of pre-paid cards

Open loop pre-paid cards experience a drop in demand due to suppressed spending

Home seclusion underpins negative performance in closed loop pre-paid cards

RECOVERY AND OPPORTUNITIES

Pre-paid cards set to benefit from shift towards cashless society

Pre-paid cards likely to face competition from other payment methods

Promotional campaigns linked to open loop pre-paid cards in bid to boost sales

CATEGORY DATA

Store Cards in Thailand - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Strong double-digit growth in transactions value gives way to double-digit declines

Non-grocery purchases much less likely to be paid for with store cards

Non-grocery retailers respond to falling demand with very generous reward upgrades