Payment Solutions in Thailand

Territories - Asia

Embracing a cashless future in Thailand with alternative payments

A market dominated by foreign investors and a growing e-commerce sector

Thailand’s payment scene is rapidly evolving, driven by the widespread adoption of alternative payment methods. While traditional bank transfers remain popular, digital wallets like TrueMoney and PromptPay have seen a significant surge in usage. In 2023, over 82% of internet users in Thailand made payments via mobile wallets, reflecting a strong shift towards cashless transactions. Businesses are also embracing these alternatives, with many integrating QR code payments and eWallets into their systems. The rise of eCommerce and government initiatives promoting digital payments are further accelerating this transformation, making Thailand a leader in Southeast Asia’s fintech revolution.

Market Overview

Population

71.9 million
Online Population

63.2 million
Currency

THB

e-Commerce Market Value

$66.70 billion
GDP

$529.3 billion
GDP per Capita

$7,810

Available Payment Methods

UBank Connect’s payment solution in Thailand offers a versatile range of options designed to meet the diverse needs of both consumers and businesses. With QR code payments becoming increasingly popular, especially in retail and eCommerce, UBank Connect ensures that your business can easily adopt this convenient and secure payment method. For those who prefer traditional bank transfers, our platform provides seamless integration with Thailand’s banking system, allowing for fast and reliable transactions. Additionally, TrueMoney, one of the country’s leading eWallets, is supported, giving your customers more flexibility and convenience when making payments.

Choosing UBank Connect means you are partnering with a trusted provider that prioritizes security, efficiency, and growth. Our solutions are tailored to the unique dynamics of the Thai market, ensuring that your business stays competitive and ready to thrive in this fast-evolving landscape. Whether you’re looking to streamline operations or expand your reach, UBank Connect has the expertise and technology to make it happen. Ready to transform your payment experience? Visit our website today and discover how UBank Connect can power your business forward in Thailand!

Why choose UBank Connect?

Direct connection to banks
Dedicated bank account(s)
Local technology and operations team
Flexible and competitive rates
Global reach with a single API access
Support in emerging markets

Key Takeaways

Half of Thailand’s total e-commerce spending is on cross-border purchases, indicating both a high demand for foreign goods and brands and a dearth of domestic alternatives. China, Japan, and the United States are the top three foreign markets for exports.
In 2023, over 82% of internet users in Thailand used mobile wallets for payments, highlighting the rapid shift towards digital transactions. Mobile wallets like TrueMoney and PromptPay have become the preferred methods for everyday purchases, reflecting consumers’ growing preference for cashless payments.
Thai businesses are increasingly adopting digital payment methods, with QR code payments becoming a popular choice in retail and eCommerce. Over 40% of Thai merchants now accept QR codes as a form of payment, driven by the convenience and efficiency it offers both businesses and consumers.
Alternative payment methods, such as eWallets and QR codes, are on the rise in Thailand. By 2023, nearly 60% of transactions were made through non-cash payment methods, indicating a strong trend towards a cashless economy. This shift is supported by government initiatives and the increasing demand for faster, more secure payment options.

Get started today!

Discover how UBank Connect can enhance your payment solutions in Thailand. Contact us today to learn more about how we can support your business. Let’s connect and take your payment processes to the next level.

Territories - Asia

Embracing a cashless future in Thailand with alternative payments

A market dominated by foreign investors and a growing e-commerce sector

Market Overview

Population

Online Population

Currency

e-Commerce Market Value

GDP

GDP per Capita

Available Payment Methods

Why choose UBank Connect?

Key Takeaways

Get started today!

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