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Thailand

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

$27,700,000,000
Online shopping market value
57%
Mobile commerce rate
30%
Cross-border e-commerce
$1,738
Avg annual online spend

Banks in Thailand

Bangkok Bank
Siam Commercial Bank (SCB)
Krung Thai Bank
Bank of Ayudhya
Thanachart Bank

Mobile Carriers in Thailand

AIS Thailand
DTAC Thailand
TrueMove 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.

Country Statistics
Region Southeast Asia
Population 69.7 million
E-commerce market size $7 billion
Local currency THB
Key Metrics
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
Other Information
Big Mac Index 3.73
Average annual income ฿ 175,680
Largest Cities in Thailand by Population
Bangkok 5,104,476
Samut Prakan 388,920
Mueang Nonthaburi 291,555
Udon Thani 247,231
Chon Buri 219,164
Nakhon Ratchasima 208,781
Chiang Mai 200,952

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