Market Research Report
Top Mobile Payment Service Providers in Thailand 2020 and their Reaction to the COVID-19 Crisis
|Published by||yStats.com GmbH & Co. KG||Product code||974485|
|Published||Content info||39 Pages
Delivery time: 1-2 business days
|Top Mobile Payment Service Providers in Thailand 2020 and their Reaction to the COVID-19 Crisis|
|Published: December 2, 2020||Content info: 39 Pages||
"New yStats publication tells of increase in online payments in Thailand during pandemic."
The user base of the most commonly used digital payment service providers has significantly increased since the outbreak in 2020. Despite the fact that the subscriber numbers had increased in 2019, they went up even more this year, as consumers have moved to online purchasing. The yStats.com report tells how E-payment service providers partnered with various other platforms in order to stimulate cashless purchasing behavior and to invite customers to online paying methods.
In 2019, Thailand had an emerging E-Commerce market with its average per capita annual online spending being the highest among other neighboring countries in Southeast Asia. In 2020, E-Commerce continues to increase and the value of digital payments is estimated to grow by the end of the year, as reported in the new yStats.com publication.
Due to the lockdown in the country and imposed restrictions, Thai consumers shifted to a new lifestyle with cashless transactions. Digital payment service providers in collaboration with Thai banks initiated different measures to simplify finance-related operations for their customers, such as the reduction of documents number required for opening a bank account, an opportunity to settle utility or credit card bills via an E-wallet and more seamless ways to transfer/receive funds or withdraw money.
AirPay Payment Services Pvt Ltd., LINE Corporation, PromptPay, Rabbit-LINE Pay Co Ltd., True Money Co Ltd.