Will the hi-tech cashless future leave a dinosaur like me behind?

[Big Boy]

I have no problem with cash + other methods being available. I recently had 2 massive bills to pay, which I did cashless. However, 99% of my spending will remain cash for as long as it is possible.

[pharvey]

I always carry a small amount of cash, but it's actually very rare that I use it these days. I have both Credit and Debit Cards that are used for pretty much all purchases. Credit Cards are paid off in full every month and are there primarily for "Award Points" and Vouchers - my Tesco Clubcard for example gets in-store discounts as well as additional coupons when you spend a certain amount, which we do pretty well from. The additional benefit of Credit Cards is the added security/insurance you get when purchasing things like flights and hotels etc.

A "Cashless Society" is certainly open to abuse and many will find themselves in debt if not careful. Personally, I know what's coming into my account and what's going out each month and will budget accordingly (Utilities, Tax, Insurance etc. all on Direct Debit and accounted for) - with Online Banking and various Apps, it's not that difficult to keep abreast of things. We're fortunate enough in that we live fairly comfortably and can afford the odd treat each month whilst still having a "Buffer" to handle unforeseen bills that hit you now and again.

Ultimately, all the usual bills are on Direct Debit and other major outgoings are the weekly grocery shop and fuel - both paid by Credit Card, Christ, even parking is "Cashless"!

[404cameljockey]

Christ, even parking is "Cashless"!

Amen for free parking!

Have you read about the utter nightmares people sometimes have in the UK now, trying to use phone apps? Not because they don't understand them; because they aren't working correctly. I remember when free parking became very heavily curtailed on public streets in the UAE (a very good tech country for government services, works almost flawlessly) many years ago. The government bypassed the introduction of meters, and went straight to cashless. I had a problem getting my head around it at first, cashless in those days (even in the UK) mostly just meant using a debit or credit card, but soon realised that if I had to pay for parking then cashless was the way.

[derek60]

Customers at 7-Eleven can now pay for purchases using banking apps, following the convenience store chain’s announcement that its stores have now begun accepting payments via QR code scans.

The new payment option, which allows customers to scan and pay through popular banking apps such as Siam Commercial Bank (SCB), was first highlighted in a post on the Facebook page “Phu Boriphok” (Consumer). The post, which expressed excitement about the development, confirmed that the feature had been successfully tested and is in the process of rolling out nationwide.

“This is a dream come true—7-Eleven now accepts scan payments!” one shopper wrote, sparking enthusiasm among others online.

While the new service is available, it is currently limited to certain branches.

According to information obtained from 7-Eleven, 232 of its 4,000 stores nationwide currently support payments through banking app scans. The majority of these branches are located in Bangkok.

Signage for the service has yet to be introduced in stores, but customers are encouraged to check with staff before attempting to pay via the scan-to-pay method.

In addition to general banking apps, 480 7-Eleven branches also support payments through PromptPay.

This service allows customers to complete transactions without using the 7-Eleven app. To pay using PromptPay, customers can follow these steps:

Open the banking app and select the “My QR” menu.
Choose “My Prompt QR.”
Enter the amount to be paid.
Present the QR code to staff for scanning.
Complete the payment.

As this new payment option expands to more branches across Thailand, 7-Eleven is expected to announce further updates.

Huahintoday

[Big Boy]

"Dream come true"

I think some people need to set their sights a little higher. What a lifetime ambition to be fulfilled - able to buy a 20ฺ฿ packet of crisps using their 20,000฿ Smart Phone. Imagine what their bucket list will look like.

[404cameljockey]

"Dream come true"

I think some people need to set their sights a little higher. What a lifetime ambition to be fulfilled - able to buy a 20ฺ฿ packet of crisps using their 20,000฿ Smart Phone. Imagine what their bucket list will look like.

Excellent comment.
KEX Express (formerly know as Kerry Express) tell you when you call them that they delivery total happiness. Very aspirational of them, I'm going to order some.

[buksida]

This in today's BKP ...

Nation leads march towards cashless society
Thailand is expected to transition to a cashless society faster than its regional peers, driven by the country's rapid digital adoption and transformation, according to a Visa survey.

Visa, a leading global digital payment service provider, recently conducted the Consumer Payment Attitude Study and found that Thailand could become a cashless society by 2028, ahead of the Asean region overall, which is expected to reach this milestone post-2028.

The survey revealed 22% of Thai consumers believe a cashless society will emerge between 2026 and 2028, compared to 16% of consumers across Asean.

Thailand ranks third in the region for carrying less cash, with only 47% of the content of each Thai respondent's wallet being cash, trailing Vietnam (56%) and Malaysia (49%).

Punnamas Vichitkulwongsa, country manager for Visa Thailand, said each regional market's stage of payment technology development plays a crucial role in moving towards a less-cash society. In Thailand, PromptPay, the national payment platform, has been a significant driver of digital banking adoption, especially during the post-pandemic era.

The survey results also revealed that Thailand leads the region in mobile banking app usage frequency. A remarkable 97% of Thai consumers said they use mobile banking apps at least once a week, surpassing Vietnam (95%) and Indonesia (90%).

https://www.bangkokpost.com/business/ge ... ss-society

Wait until the CBDC is launched and 'farang mai dai' follows, as is becoming the case with many financial services here.

[Big Boy]

In the same way as the restaurant in the OP has absolutely no chance of getting my custom, there will always be somewhere that will see a gap in the market and still chase the Farang's ฿, which is essential to Thailand's business plan. Think about it, they are bending over backwards to get Farangs into the country to spend money. If we can't spend, the economy will be fcuk'd,

If we can't spend our money and the economy goes through the floor, other ASEAN countries would be stupid to follow. We just move to somewhere that will accept our money. It doesn't bother me because I don't believe the financial sector is so stupid to totally exclude Farangs and shoot themselves in the foot.

[buksida]

There will likely be a "farang only" payments network or card that will have additional charges and be highly surveilled. I can't see them allowing farangs to have a NDID (national digital ID with biometrics) which will be a requirement to use most of these online payment systems and services in the future (it already is for many finance-related services I've tried, PayPal being the primary example.)

[Big Boy]

Whatever, they can't afford to exclude Farangs. I know TIT and the left and right hands do not work in coordination, but if we can't spend, we can't live. If we can't live, we have to move (I don't want to move, but if they give us no other choice, so be it - it won't be the first time I've had to consider it because of stupid government policy), Thailand will lose in the long run. Why do they have to make so many policy U-turn's?

In one hand they are looking at the billions they are going to gather from Farangs in taxes. That plan is very flawed if they force Farangs to leave. I used to let these stories wind me up, but now try to work on the principal there is at least one brain cell in the Government.

[buksida]

I used to let these stories wind me up, but now try to work on the principal there is at least one brain cell in the Government.

you're hoping.

[Big Boy]

[Ratsima]

I was visiting my sister in the US last month. Before I left here I ordered a debit/ATM card from my US bank to be sent to her address. When I got there I quickly took a hundred bucks from an ATM so I'd have some cash to spend. Never spent a nickel (five cents) of it. Used my iPhone or Apple Watch to pay for everything from meals, to Uber rides, to groceries and hardware.

[Dannie Boy]

Looks like the end is nigh BB + cash will soon be a thing of the past according to this!!

https://www.bangkokpost.com/business/ge ... ss-society

[STEVE G]

I had to get a new Bangkok Bank ATM card today and at the bank they confirmed that it had contactless payment which I'd never used in Thailand before.
I tried it in the small Lotus in Hin Lek Fai this evening and it worked fine. You even get an SMS message confirming the payment just like I get with my European bank.