Accept payments in Thailand
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Thailand Payment Market Overview
Thailand is one of the fastest-growing economies in Southeast Asia. According to the Economic Research by J.P. Morgan Chase Bank from March 2019, business to consumer e-commerce market is worth over $26.2 billion, the second-largest market in Southeast Asia after Indonesia.
Thailand is considered a mobile-first country, with the use of smartphones and other mobile devices outstripping desktop internet usage. The Thai mobile commerce market is already the dominant e-commerce sales channel in the country, used for 52% of all online shopping transactions and worth $13.6 billion. This makes the country one of the regional forerunners for mobile commerce.
Looking ahead, the rise of mobile commerce should be aided by plans to introduce ultra-fast 5G internet to the country’s communications infrastructure.
Payment Methods in Thailand
Key Market Indicators in Thailand
Banks in Thailand
Mobile Carriers in Thailand
Thailand Payment Methods Guide
Thailand is experiencing rapid growth as Internet and smartphones penetrate the market. Digital commerce is considered a developing industry in Thailand, where credit card penetration is not particularly high.
Alternative payment methods are popular in the nation, and up to 75% of its population prefers to pay for digital purchases with online bank transfers, e-wallets or cash.
|E-commerce market size||$7 billion|
|Internet penetration rate||64.5%|
|Average internet cost||$19.3/month|
|Mobile penetration rate||39%|
|Cellular technology standard||3G, 4G|
|Popular mobile OS||Android, iOS|
|Big Mac Index||3.73|
|Average annual income||฿ 175,680|