PM launched digital wallet scheme for 50 million Thai citizens with 10,000 baht handouts to boost economy. Money must be spent in local shops, with focus on financial discipline and transparency.
Official Launch of Digital Wallet Scheme
Prime Minister Srettha Thavisin announced the official launch of the “digital wallet” scheme today, benefiting an estimated 50 million Thai citizens aged 16 and older. Registrations are to begin in the third quarter of this year, with 10,000 baht to be wired to their accounts in the fourth quarter.
Financial Discipline and Transparency
The prime minister emphasized that the digital wallet scheme will adhere to financial discipline and comply with relevant laws and regulations. Operated transparently, cautiously, and honestly, the scheme aims to ensure the greatest benefit to the nation. Eligibility criteria require registrants to be 16 years or older, with assessable income not exceeding 840,000 baht per annum or combined cash deposits not exceeding 500,000 baht.
Usage and Development of a Super App
Participants in the scheme can only use the money at registered stores within their districts. The Ministry of Digital Economy and Society and the Office of Digital Development will develop a “super app” for transactions using the digital money, aiming to bring convenience and efficiency to the scheme. This initiative is part of a broader strategy to revive the Thai economy, with officials optimistic that the handouts could increase growth by as much as 1.8 percentage points.
Source : Thai PM declares official launch of digital wallet program
