THE PAVILIONS PHUKET EPL Prediction Competition 2018-2019 Kata Rocks
Login | Create Account Poll Currency Weather Facebook Youtube Search

State agencies to adopt cashless systems

NATIONWIDE: All state agencies will be required to make and receive payments through the electronic system from March 27, a crucial step in transforming Thailand into a less cash-reliant economy.

economicstechnology
By Bangkok Post

Saturday 3 February 2018, 10:04AM


Nearly 500,000 EDC terminals have been installed under the national e-payment scheme. 

Nearly 500,000 EDC terminals have been installed under the national e-payment scheme. 

State enterprises will also adopt electronic payment and receiving systems over the next six months, Finance Minister Apisak Tantivorawong said after a meeting with the steering committee on the national e-payment system.

The requirements will prompt more people to send, pay and receive money through the digital channel.

The steering committee agreed to the requests for payment systems, which will make payment once products or services are delivered to buyers, for e-commerce business, Mr Apisak said, adding that the system can boost confidence in buying products from online vendors and prevent e-commerce fraud.

The committee also agreed to develop a payment app for smartphones so that holders of welfare smart cards in remote areas where there are no electronic data capture (EDC) terminals can buy goods at Thong Fah Pracha Rat shops.

It is not worthwhile for shops in remote areas to install the card-swiping devices, Mr Apisak said, due to the low numbers of users, but EDC terminals are required for payment through welfare smart cards. The app, once developed, will fill the gap.

Nearly 500,000 EDC terminals have been installed under the national e-payment scheme, but only 20,000 have been installed at Thong Fah Pracha Rat shops.

QSI International School Phuket

Mr Apisak said the government plans to spend 200 million baht to install an additional 20,000 EDC terminals at Thong Fah Pracha Rat shops to accommodate use by holders of welfare smart cards.

Under the first phase of the government's welfare and subsidy scheme, the government transfers 200-300 baht a month to each welfare smart card. Recipients earning less than 30,000 baht a year get a monthly allowance of 300 baht, while those with annual earnings of 30,000-100,000 baht receive 200 baht to buy discounted goods at Thong Fah Pracha Rat shops.

Moreover, the government, under the second phase of the scheme, will distribute an additional 100-200 baht a month through smart cards to the recipients who sign up for the government's skill training programmes from next month.

The committee also endorsed the Stock Exchange of Thailand implementing a two-day settlement cycle (T+2) from March 2 onwards.

The new settlement system will shorten stock payment and settlement to two days after transaction from three days, a duration that has been the norm for decades.

Read original story here.

 

 

Comment on this story

* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.

Comments Here:
Comments Left:
# Characters
Username:
Password:
E-mail:
Security:

Be the first to comment.

Have a news tip-off? Click here

 

Phuket community
Civil action to be taken against shot Phuket driver’s family

Not sure how "saw" became "so", technology.. amazing....(Read More)


Indonesia teen rescued after seven weeks adrift at sea

Amazing ordeal for this kid. The fact that he agreed to be moored 125 km out to sea by himself is p...(Read More)


The Thai wives who never said ‘I do’

It feels like everything about foreigners is immigration wise very well in order. Report-report, 2 n...(Read More)


Drug blitz at full moon party

A small island, allowing up to 30,000 night party goers? On a drugs island? Are they nuts? Where pol...(Read More)


Quarter of capital’s public vans to be retired

Mhh, bit by bit I get hold on thai thinking. 1: stop with beach life guards, look later how to handl...(Read More)


Back to the drawing board for ‘Phoenix’ salvage

Obviously no calculations done to assess the submerged weight of the vessel ie. full of water. No bo...(Read More)


Life Cycling: The health benefits of a good pedalling

Whether it's to improve your health and fitness, as an environmental choice, taking up cycling c...(Read More)


Civil action to be taken against shot Phuket driver’s family

Has anyone actually seen the video, I so a pick up, that is NOT mowing down three motorcyclists wait...(Read More)


Civil action to be taken against shot Phuket driver’s family

So finally the Phuket police take drastic action that was needed to protect the general public from ...(Read More)


Phuket boat mechanic dies after getting neck caught in engine

Yeah...he slipped and got his neck caught...a likely story. Probably more like Capt fired up the eng...(Read More)


 

Melbourne Cup 2018