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| Thailand plans second phase of “Digital Wallet” programme. — Photo bangkokpost.com |
BANGKOK — The Thai government is preparing for the second phase of its “Digital Wallet” support programme, offering 10,000 THB (US$300) per person, following the first phase of cash handout to 14.5 million recipients.
This second phase will allow those without smartphones to register at state-owned banks starting next month.
Deputy Finance Minister Julapun Amornvivat stated that the first phase, targeting vulnerable groups, had successfully accelerated cash flow and stimulated the national economy. For individuals in vulnerable groups who do not own smartphones, the government plans to open registration at state-owned banks in November.
The registration system is already fully prepared and will be ready to serve citizens next month. The 10,000 THB in the second phase will still be distributed in cash, not in digital currency. However, Deputy Minister Julapun affirmed that the government remains committed to developing an interbank payment system through e-wallets.
In another development, Nath Vongphanich, President of the Thai Retailers Association, announced that the association had proposed to Prime Minister Paetongtarn Shinawatra the reinstatement of the “Shop Dee Mee Khuen” (Shop and Get Discounts) program run by the Revenue Department. Set for the year-end peak season, this programme is expected to significantly boost consumer spending.
Nath believed that the revival of the program will help businesses, especially small and medium-sized enterprises, increase sales.
Additionally, the shopping stimulus campaign through tax reductions could generate over 100 billion THB in circulation within the Thai economy. — VNS
Source: Vietnam News/ Vietnam Insider