Southeast Asia's second largest economy plans second phase of 'Digital Wallet' program

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, the second largest in Southeast Asia.

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 baht 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 program 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 baht in circulation within the economy.