Payments/TH
Thailand
ISO TH · 3 schemes
Summary
- PromptPay is the national instant payment system (2016)
- 75.9 million daily transactions processed
- 77 million registrations nationwide
- Thai QR standard (EMVCo-based, 2017)
- 92% of Thais use digital payments
Banking landscape
Central Bank
- Name: Bank of Thailand (BOT)
- Website: https://www.bot.or.th/
- Role: Monetary policy, payment systems oversight
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Bangkok Bank | Private | Bangkok Bank Mobile |
| 2 | Kasikornbank (KBank) | Private | K PLUS |
| 3 | Siam Commercial Bank | Private | SCB EASY |
| 4 | Krungthai Bank | State-owned | Krungthai NEXT |
| 5 | Bank of Ayudhya (Krungsri) | Private | KMA |
Market Structure
- 30+ banks: Connected to PromptPay via ITMX
- State bank: Krungthai Bank (government transactions)
- Virtual banks: Entering market in 2025
- Digital-first: K PLUS, SCB EASY leading apps
2024-2025 Performance
- 92% digital payment adoption
- 538 transactions per person annually
- Tourism driving cross-border growth
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| PromptPay | BOT/ITMX | Real-time P2P/P2M | Dominant |
| Thai QR | BOT | Unified QR | Active |
| BAHTNET | BOT | RTGS | Active |
| ITMX | Banks | Switch | Core infra |
PromptPay Statistics (2024-2025)
- 77 million registrations
- 75.9 million daily transactions
- 538 transactions per person annually
- 41.6% mobile payment market share
QR Payment Market
- 42.7% of 2024 transaction value via QR
- 60%+ of Thais use QR monthly
- No hardware investment required
- 8 ASEAN countries interoperable
QR code standards
Thai QR Standard
| Attribute | Value |
|---|---|
| Launch | October 2017 |
| Operator | Bank of Thailand |
| Format | EMVCo-based with local customization |
| Networks | Visa, Mastercard, UnionPay integrated |
Thai QR Features
- Single QR for all payment methods
- PromptPay integration
- Card network support (Visa/MC/UnionPay)
- Merchant-presented and customer-presented
PromptPay QR Features
- Linked to phone number or citizen ID
- Real-time bank-to-bank transfers
- Fee-free for P2P
- Merchant acceptance nationwide
Market Share (2024)
| Payment Method | Share |
|---|---|
| PromptPay transfers | 41.6% |
| QR code payments | 42.7% (value) |
| Card payments | Remainder |
Mobile payment apps
| App | Provider | PromptPay | Thai QR |
|---|---|---|---|
| K PLUS | KBank | Yes | Yes |
| SCB EASY | SCB | Yes | Yes |
| Bangkok Bank | Bangkok Bank | Yes | Yes |
| Krungthai NEXT | Krungthai | Yes | Yes |
| TrueMoney | True | Yes | Yes |
Bank App Leaders
- K PLUS: Kasikornbank's leading app
- SCB EASY: SCB's digital platform
- Krungthai NEXT: Government-linked
- KMA: Krungsri mobile banking
E-wallets
- TrueMoney
- Rabbit LINE Pay
- ShopeePay
- GrabPay (closed in Thailand)
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| Thai QR | Unified QR | EMVCo | Universal | thai-qr |
| PromptPay QR | Payment QR | BOT | 77M registered | promptpay-qr |
| Cross-border | International | EMVCo | 8 countries | — |
Sources
- Bank of Thailand - PromptPay
- BOT - Cross-Border Payment
- Transfi - Thailand Payment Rails
- Mastercard - Thailand Digital Economy
- IconicThai - FinTech Thailand 2025
- Antom - PromptPay Docs
- World Bank - PromptPay Case Study
- Mordor Intelligence - Thailand Mobile Payments
- DBS - PayLah Thailand
- TAGTHAi - Easy Pay