Payments Landscape in Thailand Market to Report Significant Growth in Future

(EstateNewsWire.com, June 04, 2018 ) GlobalData’s "Payments Landscape in Thailand: Opportunities and Risks to 2021", report provides detailed analysis of market trends in Thai cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, direct debit, credit transfers, payment cards, and cheques during the review-period (2013-17e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017e-21f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

Companies Mentioned:

Bangkok Bank
Kasikornbank
Siam Commercial Bank
Krungthai Bank
TMB
Krungsri Bank
Aeon Credit Service Visa
Mastercard
Thai Payment Network
American Express
JCB
Diners Club

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Scope:

- Alternative payments are gaining prominence in Thailand with the launch of global payment solutions including Samsung Pay and Alipay. In February 2017, Samsung Pay was launched in the country, allowing owners of various Samsung devices to conduct in-store and online contactless payments by adding credit cards, Mastercard Galaxy Gift prepaid cards, and membership cards to the wallet. Meanwhile Alipay was launched in Thailand in September 2017 in collaboration with Kasikornbank, enabling Chinese tourists visiting the country to make payments at partnered networks using Alipay.
- To boost the electronic payments space, the central bank collaborated with American Express, JCB International, Mastercard, UnionPay International, Visa, and financial services providers to introduce standardized QR code payments in August 2017. The new system expands e-payment options for both merchants and consumers. The system also reduces costs for merchants, as they no longer need to have multiple QR codes or invest in POS terminals. The system is compatible with international standards, enabling Thai individuals to conduct both national and international payments.
- To introduce real-time payments in the country, the Bank of Thailand and the Thai Bankers’ Association launched national e-payment system PromptPay in January 2017. The system requires users to link their bank account with a mobile number or national ID number, thereby enabling them to conduct real-time fund transfers to recipients or make payments at merchants without the need to divulge their bank account details. To expand the scope of the service, in November 2017 the central bank permitted interbank utility bill payments via PromptPay at a cost of THB5 ($0.15) per transaction. Banks that support the service include Bangkok Bank, Krungthai Bank, Bank of Ayudhya, Kasikornbank, Kiatnakin Bank, Siam Commercial Bank (SCB), Thanachart Bank, Citibank, and Mizuho Bank.

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This report provides top-level market analysis, information and insights into Thai cards and payments industry, including -
- Current and forecast values for each market in Thai cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including cash, cheques, direct debit, credit transfers, and payment cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Thai cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Reasons to buy:

- Make strategic business decisions, using top-level historic and forecast market data, related to Thai cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in Thai cards and payments industry.
- Assess the competitive dynamics in Thai cards and payments industry.
- Gain insights into marketing strategies used for various card types in Thailand.
- Gain insights into key regulations governing the Thai cards and payments industry.

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