e-Commerce and Payments in Thailand
A market dominated by foreign investors and a growing e-commerce sector
Thailand is a fascinating and lucrative market with a tech-savvy population that frequently uses mobile payment systems. Thailand may be the hottest new destination for any retailer looking to expand internationally. Although bank transfers and digital wallets are becoming more popular, cards are still currently the most popular method of online payment.
Market Overview
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Population
71.8 million
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Online Population
50.8 million
-
Currency
THB
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e-Commerce Market Value
$16.41 billion
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GDP
$511.19 billion
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GDP per Capita
$8,181.93
Available Local Payment Method
TH Bank Transfer
Type
Bank Transfer
Regions
Asia Pacific
TH QR
Type
QR Code
Regions
Asia Pacific
True Money
Type
e-Wallet
Regions
Asia Pacific
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.
- International courier companies like UPS, FedEx, and TNT have established domestic delivery networks, and there is an increase in the number of warehouses and local providers offering express services, despite Thailand’s e-commerce delivery infrastructure still needing to be developed to meet demand.
- While bank transfers and digital wallets are becoming more popular, cards are still currently the most popular method of payment for online purchases in Thailand.
