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Monday, May 20, 2024

Thai PM declares official launch of digital wallet program

PM announced launch of digital wallet scheme benefiting 50 million Thai citizens, improving economy and livelihoods.

Official Launch of Digital Wallet Scheme

After months of delay, Prime Minister Srettha Thavisin announced the official launch of the “digital wallet” scheme today. The estimated 50 million Thai citizens aged 16 and older will be able to register in the third quarter of this year, with the 10,000 baht to be wired to their accounts in the fourth quarter.

Here are some key details about the program:

  • The program will distribute almost $14 billion in cash handouts to stimulate growth in Thailand’s economy.
  • Each of the 50 million Thai citizens will receive 10,000 baht (approximately $275) via a digital wallet in the fourth quarter.
  • The program targets adults earning no more than 70,000 baht a month and they should have less than 500,000 baht in their bank accounts.
  • The…

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