Pre-paid cards were originally widely used for pre-paid mobile SIM card top-ups, for transportation systems, and for shops. With e-payments strongly growing alongside financial technology in Thailand, the e-wallet is becoming a more convenient payment method and is spreading its use to mobile applications.
The large number of low-income consumers in Thailand serve as a solid potential consumer base for pre-paid cards, which provide an attractive payment method for consumers who have difficulty in accessing banking services. Increasing access to smartphones and the internet amongst such consumers is, therefore, proving significant in the expansion of pre-paid cards as they are increasingly linked to e-wallets.
With the increasing importance of e-wallets to pre-paid cards, the Thai Government’s National e-Payment Master Plan is set to provide a positive environment for the development of pre-paid cards during the forecast period.
Major internet operators, including True Corporation and Grab, are targeting the growing popularity of e-wallets in the Thai market. The end of the review period saw the launch of the GrabPay e-wallet in Thailand, following its introduction in Singapore, Malaysia, Indonesia, Vietnam and Philippines.
Many financial cards operators, including SCB, KTC and Krungsri, have partnered with popular online platforms or mobile applications used by Thai consumers in their daily lives, such as Line, Rabbit, AIS and TrueMoney, to provide payment methods for a range of occasions, including train services and online shopping.
As part of the National e-Payment Master Plan promoted by the Thai Government, the MangMoom card is designed to be used for payment on most of the transportation systems in Bangkok. This is important as Thais use various types of public transport, as well as many types of payment methods for transportation.
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