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Can we really go cashless in Thailand?

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1 hour ago, gamesgplayemail said:

I will never go cashless.

 

So funny that people accept the BS that big brother decides for you.

 

Nobody knows what i buy and when i buy it, and it will never change.

 

You guys are such followers, you should live in China if you enjoy being tracked whatever you do !

 

 

howdy!  in china now, where they're quickly going cashless.

 

even for minor nickel-n-dime purchases.........a dollar for noodles at a roadside stand, half a buck for a bat on a stick......even a buck or two for veggies from the old lady sitting on a blanket outside the wet market.....they've all got little cardboard QR-code signs.

 

getting harder and harder to make purchases, shop-owners no longer keep enough change in the till, even had one snack bar refuse cash a couple weeks ago.  QR-codes only.

 

no ticket takers on city buses, cash in the box (no change) or scan.

 

no fee for the QR purchases, taken directly out of savings account linked via phone.

 

and yes, big mao-yeye can follow all of your purchases.

 

combine that with having your ID card (or passport) scanned and entered into the system to buy train or bus tickets, use an internet bar(*) or buy a sim card.

 

(*)chinese ID card only.  no laowai!

Edited by ChouDoufu

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16 hours ago, mstevens said:

Thailand has a sizeable underground economy in which some very powerful and influential people are heavily involved. I really don't think they the idea of going cashless and hence everything being traceable will go down well with them!

 

Cashless will probably come at some point in places with very low corruption like the countries of Scandinavia, New Zealand etc but Asia becoming cashless? Perhaps another generation, say 20+ years until that happens, I reckon - and even then I would not be so sure.

 

My wife made a trip to China and said that cash is hardly used anywhere for anything now. I guess that in the countryside it might be different. But yes, Asia is becoming cashless. By racing to catch up with the west it is installing newer technology and is leap-frogging more historic and traditional societies. In 10 years I doubt that anyone will be carrying cash, and not only in Asia.

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6 minutes ago, Bangkok Barry said:

In 10 years I doubt that anyone will be carrying cash, and not only in Asia.

I think your timeframe maybe a little ambitious. 

Some western countries have started to question it a little but not enough in my mind -

Sweden - https://www.bbc.com/news/business-43645676

UK - https://www.theguardian.com/commentisfree/2018/jul/19/cashless-society-con-big-finance-banks-closing-atms

https://www.thisismoney.co.uk/money/article-6509643/Are-sleepwalking-cashless-crisis-firms-card-only.html

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I do not trust giving my cards and letting them out of sight when in the US or even within the EU.....skimmer cheats,  credit card cheats who take commissions on every penny you spend, disgraceful exchange rates....and so on.....not the smartest or the safest, but nowdays when travelling, I just carry cash...(of course "if  I get robbed etc. etc. etc.....)....but still, cash gets me the longest way for the buck.

 

Obviously sometimes one cannot go cardless and that is a different story....but I sure my distinguished readers get the point....

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I went completely cashless when I was living in China. Just used WeChat Pay as it was so easy and quick. I went pretty much cashless in the UK too and just used my debit card. It's great as long as you have no issues, such as card services going down. 

 

 

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I carry cash. I'll use a credit card, Paypal or e-banking for online purchases, but for day to day transactions I prefer cash. The argument that you can better track your purchases I don't see. Unless you're too lazy to keep your receipts, or remember what you spent and where. It's easy to keep track with something like MS-Money, I've got records of income, investments and expenditure going back over twenty years. It allows me to create realistic budgets, and to properly manage my finances.

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On 1/28/2020 at 6:40 PM, bwpage3 said:

Impossible to do in places like rural Isaan where all of the local transactions are in cash.

There are many options where you can go cashless 7/11 Excepted many forms of cashless payment PromptPay is widely accepted. open a Thai band and you can use cardless transactions to withdraw cash. If they wabted to you could go cashless but some places ash is still best. if the virus scare takes off it might be 100% cashless sooner than later.   Bars and motor bike taxis might be problematic.  Government could then impose a transaction tax as an alternative to the many of other taxes that bound. 

Edited by OffshoreMig

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37 minutes ago, topt said:

It will be much quicker. 5 years maybe. Look how quick people adapted to ATMs and Mobile phones 

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what an excellent idea " to scratch off the 3 digits " not just thailand the world

but what if i forget ?

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1 hour ago, OffshoreMig said:

It will be much quicker. 5 years maybe. Look how quick people adapted to ATMs and Mobile phones 

I am pretty much willing to bet that Thailand will not be cashless in 5 years :biggrin:

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Regarding "fees" for cashless transactions, so far the various mobile apps charge zero for paying bills. Presumably they charge a small fee from the vendor, but we're talking micro-payments. Meanwhile the average Thai pays 10 baht each time he settles a utility bill at 7-11.

 

Only about 18 months ago we had to pay for an interbank money transfer. That ended with Promptpay. I just cancelled several ATM/debit cards because I don't need one per bank anymore - just transfer the money to the bank I prefer and use that debit card or a cardless withdrawal. So I don't think cashless is more expensive for the consumer.

 

A couple of years ago on New Year's morning I was stuck up a mountain (Phu Tab Berg) in Phechabun with only a thousand baht note and a desperate need for a cup of coffee. No problem, said the owner of the coffee shack, "just send the money to me with Promptpay." Very convenient.

 

At the end of the day, cashless won't work unless it is convenient for most of us and no more expensive than cash. Thais don't really care about privacy or BB so I doubt that will be an issue for them.

 

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why tell people this 

your so caled thai rip u offf

i use cash in most places but i live in the north 

cc whats that

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