Thread: Banks move forward on cashless payment system

CASHLESS payments in Thailand are expected to rise to between 50 and 60 per cent of the total within five years from the current 30 per cent after banks invest in electronic data capture (EDC) and finalise a new structure for transactional fees.

Yos Kimsawatde, head of the Thai Bankers' Association's Payment System Office, said members of the TBA had agreed on the new fee structure, under which charges for digital banking will be significantly lower than in the past. Fund transfers via mobile banking currently cost Bt10 per transaction, for example, but the charge will be lower under the new structure, he said.

more Banks move forward on cashless payment system - The Nation

I doubt Thai people will enjoy being charged at every operation as I think they already tend to stock cash at home or in a safe at the bank to avoid deposit/withdrawal fees ...better/easier for them to go on like this, unless the government set up a threshold prohibiting cash transaction ?

By the way I think the current withdrawal fees are already unjustified as I already pay for my credit/withdrawal card.

Won't work at the market!

Originally Posted by Neverna

Won't work at the market!

That's the idea. They don't want people growing food, taking it to a market, and selling it there. Everything must be grown by the mega companies and your money must go to them, through the bankers.

Cashless society - one more step towards the fascist dictatorship.

Originally Posted by pseudolus

Originally Posted by Neverna

Won't work at the market!

That's the idea. They don't want people growing food, taking it to a market, and selling it there. Everything must be grown by the mega companies and your money must go to them, through the bankers.

Cashless society - one more step towards the fascist dictatorship.

Yep....
Seems as most prefer existence that way, as they don't do much to instigate change or resistance - living their pathetic lives along the same old paths that were manufactured for them.

Cash has usually been king in Thailand. Doubt that this will change for the foreseeable future.
The OP sounds like mere lip service from banks to mollify investors and the yanks.

Jeff, what are you doing to 'instigate change'?