Lifestyle, virus push e-money trend

Electronic money (e-money) has grown in terms of spending and top-up value, driven by consumers’ financial behaviour in the digital age and social distancing amid the pandemic.

According to the Bank of Thailand, e-money spending value has continued to increase for the past five years.

In 2020, the value was 310 billion baht, rising from 276 billion in 2019, 203 billion in 2018, 126 billion in 2017 and 90.9 billion in 2016.

The value stemmed largely from non-bank companies, which contributed 276 billion baht in 2020 or 88.3%.

The top-up value of e-money in 2020 tallied 314 billion baht, increasing from 292 billion in 2019, 217 billion in 2018, 128 billion in 2017 and 91.5 billion in 2016.

Last year 88%…