Thailand's digital wallet scheme delayed, but still on in Q1 2024

THAILAND will delay the rollout of its digital wallet handout scheme but still launch it in the first quarter of next year, a deputy finance minister said on Thursday (Oct 19).

The new government’s signature economic programme was originally scheduled to begin on Feb 1. It aims to give 10,000 baht (S$377.06) in handouts via digital wallets to more than 50 million people, to be spent in local communities.

Deputy Finance Minister Julapun Amornvivat said the government needed more time to work on the scheme and was still open to suggestions of all parties.

“The Feb 1 start date is a bit tight, especially for the system’s security that must be tested until we are confident about it,” he said.

“But the project will definitely start no later than the first quarter next year,” he added.

The digital wallet scheme, which has been heavily criticised by economists, will require no more than 548 billion baht and will help lift economic growth close to 5 per cent in 2024, Julapun said. REUTERS