Jump to content
BANGKOK
Sign in to follow this  
webfact

‘Eat, Shop, Spend’ campaign a clear move towards cashless society, says telecoms expert

Recommended Posts

‘Eat, Shop, Spend’ campaign a clear move towards cashless society, says telecoms expert

By The Nation

 

800_06b403c3d958799.png?v=1571148350

 

As of October 9, as many as 10 million people had registered for the government’s Bt10-trillion “Eat, Shop, Spend” campaign since it was launched on September 23. 

 

Under the project, registrants are given a Bt1,000 coupon to spend. Though the project is seen as a populist policy, there are many sectors that will benefit from the campaign, with IT experts seeing this as a first step towards turning Thailand into a cashless society.

 

Cashless society

 

Suebasak Suebpakdee, a telecoms researcher at Bangkok University, said the “Eat, Shop, Spend” project appears to be a way of introducing Thais to cashless payment, as it will circulate funds in many economic sectors.

 

Boosting popularity of e-wallets

 

Though the younger generation is familiar with e-transactions, the concept of e-wallets has not spread nationwide. “If we want to succeed like China and other developed countries, where e-wallet has become a more traditional way of payment, we need to expand access points and applications. Only about one million people use e-wallets even though the service has been available for several years,” Suebsak said. “However, this ‘Eat, Shop, Spend’ campaign has almost immediately gained 10 million e-wallet users, with merchants and small businesses finally recognising online opportunities, especially since they are earning Bt500 to Bt1,000 daily via apps.”

 

Emergence of e-wallet checkouts

 

This campaign has not just increased the use of e-wallets, it has also increased the number of points where it can be used. Previously, e-transactions could only be made at large retail shops or luxurious coffeeshops, but now it can be used in mom-and-pop stores, street vendors and even for motorcycle taxis. “Some countries use years to reach this scale, while Thailand managed to achieve this in less than half a month,” he said.

 

National Digital ID kicks off

 

Behind the simple interface of the “Eat, Shop, Spend” is the National Digital ID system, which uses a facial-recognition system. Suebsak believes the system’s performance and accuracy will improve when the personal database is linked and more data is retrieved from different sources.

 

Hence, he said, the “Eat, Shop, Spend” campaign is worth the investment and even though the system is unstable, this campaign is a firm step towards a cashless society.

 

Source: https://www.nationthailand.com/business/30377429

 

nation.jpg

-- © Copyright The Nation Thailand 2019-10-16

Share this post


Link to post
Share on other sites

All them 1000 baht notes are being spent at Tesco and Big C - not as planned.

  • Like 2

Share this post


Link to post
Share on other sites

If alcohol was made a cashless only product, Thailand would be number 1 in the digital world

  • Haha 2

Share this post


Link to post
Share on other sites
6 hours ago, webfact said:

Hence, he said, the “Eat, Shop, Spend” campaign is worth the investment and even though the system is unstable,

An unstable cashless society is just what the country needs.

It's pretty much reached that point already........for 99% it is almost cashless.

And it certainly becoming unstable with the likes of General Apirat running around shooting his mouth off about coups and "hybrid" enemies. 

  • Like 1

Share this post


Link to post
Share on other sites

“If we want to succeed like China. . . "

 

Since when did China, the ultimate surveillance society and human rights abuser, become a role model for success?

 

Hang on to your cash for as long as you can. If the day dawns when it belongs to the state, so will you.

  • Like 2

Share this post


Link to post
Share on other sites

If cash is gone, all freedom is gone !

Total surveillance is coming - and people seem to like it.

The brainwashing into "Technocracy" has worked perfectly !

  • Like 2

Share this post


Link to post
Share on other sites

Copy-artists trying to emulate Europe (as usual) with the expected results of failure.

Share this post


Link to post
Share on other sites

I think they are heading the China route gradually.  I also think that some people's pockets needed a refill

Share this post


Link to post
Share on other sites

Clearly Brain Failure was to blame for this idea

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...