11 July 2024

Prime Minister Srettha Thavisin said today that there will be good news about the digital wallet scheme announced on April 10.

Chairing a meeting today to discuss the scheme, he said that the board of the digital wallet scheme has scheduled a meeting on April 10 to consider reports related to the scheme, to be presented by the Ministry of Digital Economy and Society regarding the “open loop” technology to be used by financial institutions and business operators involved in the scheme, and the Royal Thai Police regarding legal matters.

Srettha said that all the reports will be collated and presented to the cabinet for final approval in April, as he reconfirmed the third quarter timeline, for registration by stores participating in the scheme and eligible members of the public, and the fourth quarter timeline for the disbursement of the money.

The prime minister claimed that both the National Economic and Social Development Council (NESDC) and the Bank of Thailand agree with the timeline, as already outlined by Deputy Finance Minister Julapun Amornvivat.

He also said that the source, or sources, of the 500 billion baht needed to fund the scheme will also be made clear on April 10th.

The prime minister stressed the need for the injection of a huge amount of money to stimulate the economy, after Thailand has experienced low growth for the past ten years, compared to neighbouring countries.