Electronic payment, or e-payment, spending has become the new norm for doing business in the digital economy era. It is a choice Thai shoppers make for the convenience and speed of purchasing goods or services. E-payments not only save time but are also secure, enabling businesses to reach a wider audience, improve processing efficiency, and meet the needs of both domestic and international transactions.

In this article, we’ll explore e-payments in Thailand, including the various popular methods available and which operations ought to consider adopting them. We will also discuss how to choose the right approach for your business.

What’s in this article?

• What is e-payment?
  
• Popular Thai e-payment channels
  
• Which businesses need to use e-payment systems?
  
• How does e-payment benefit businesses?
  
• How to choose an e-payment channel
  
• How Stripe Payments can help
  

What is e-payment?

E-payment enables financial transactions to take place electronically, removing the need for cash or checks. It is gaining popularity in Thailand because it offers practicality and strong protection. Both shoppers and businesses are increasingly using these platforms to facilitate customer payments, such as those made via mobile applications, QR codes, websites, or digital wallets.

Additionally, the government supports this system through the national e-payment strategy plan, which aims to strengthen the country’s digital economy. Key projects include PromptPay, Thai QR code, and the government digital wallet, all designed to promote the safe and efficient use of financial technology services by citizens and enterprises.

Popular Thai e-payment channels

In Thailand, there are many widely used e-payment channels, consisting of the following:

Mobile banking

Mobile banking applications let people move funds and pay for goods or services instantly, eliminating the need for cash and simplifying the process. It is secure and has a PIN check or biometric data verification, such as fingerprint or face scanning.

PromptPay

PromptPay is a domestic fund-transfer tool. Users can link their bank account to their phone or national ID card number for the convenience of receiving and transferring funds at no cost, provided the transaction is within the specified limit. PromptPay steps are shorter and cheaper compared to other forms of money transfer.

Digital wallet

An online money account that users can top up by bank transfer, ATM deposits, counter services, or by linking a credit or debit card to spend on products or offerings conveniently, safely, and quickly. Popular wallet apps in the country include LINE Pay, ShopeePay, and TrueMoney.

QR code

To settle via QR code scanning with your mobile banking or wallet app, the payer simply logs in and selects the “scan QR code” menu. You then complete the purchase on the spot without carrying cash or cards, reducing the risk of exposing card numbers. It’s simple and fast, perfect for everyday use and internet shopping.

Payment link

Businesses can create and send payment links to customers through social media, email, or SMS, directing them to a secure checkout page when they click the URL. A single link can present several ways to pay, e.g., credit cards, PromptPay, and digital wallets. This lets you accept online payments without a website, app, or API (application programming interface) connection, so the whole flow stays straightforward and swift.

Credit and debit cards

Internet purchases or through a card swipe machine rely on information on the card, including its number, expiration date, and CVV (card verification value) code. Credit cards are a form of lending provided by financial institutions, allowing cardholders to spend now and repay later. Debit cards, on the other hand, deduct funds from the account balance immediately upon completion of the transaction, making payments convenient, fast, and secure. You need to choose a provider that has established security standards and anti-fraud systems, such as PCI DSS, 3D Secure, and identity verification using one-time passwords (OTPs).

Buy now, pay later

Buy now, pay later, or BNPL, is a financing option that allows buyers to pay in installments ranging from 3 to 12 months (depending on the agreement and provider), usually interest-free or with a down payment. Low-interest rates, if paid on time, lightens the burden of spending and adds ease in daily shopping. Leading BNPL platforms in Thailand are Atome, Lazada PayLater, PayLater by Grab, Pay Next by TrueMoney, and SPayLater by Shopee.

Prepaid card

A prepaid option that lets users buy cards containing preloaded value. When paying for goods or services online, the system deducts the stored amount directly from the card, eliminating the need to link it to an additional bank account or charge card, thereby increasing security. If the card is lost or stolen, the damage is limited to its balance, for example a transport card or an online game top-up card.

Payment gateway

A payment gateway is an intermediary platform that handles the checking and safe delivery of payment details between a vendor and a card network or bank, for instance during checkout on an ecommerce site or app. When a buyer makes a purchase, the gateway encrypts the data and confirms its accuracy before sending it to the issuer for approval. With international standards and advanced security systems, including PCI DSS, which features a range of fraud prevention features, businesses can safely and quickly receive funds without storing card data themselves.

NFC technology

Near-field wireless communication (NFC) technology is used for contactless payments, such as tapping a credit/debit card or an NFC-enabled point-of-sale (POS) or SoftPOS card reader, allowing you to finalize the purchase without hassle. A simple tap completes the step, without the need to insert a card or enter a PIN (in some cases)

Which businesses need to use e-payment systems?

The e-payment system is suitable for many types of businesses in a multitude of industries to meet the expectations for simplicity, speed, and security in transactions, such as the following:

• Ecommerce: Websites and online platforms benefit from an e-payment setup to allow customers to make convenient and rapid payments through several routes, e.g., mobile banking, PromptPay, or payment links, enabling users to purchase products smoothly and safely.

• Services: Service businesses, especially those that require a reservation—travel, hotels, and airlines—let people prepay at any time, anywhere, increasing the efficiency of booking tickets in advance and raising the chances of closing sales.

• Retail: Accept payments by QR code, mobile applications, or NFC technology at convenience stores, supermarkets, restaurants, and cafes, supporting smooth cashier operations and prompt customer service.

• Small and medium-sized enterprises (SMEs): SMEs adopt e-payment systems to reach target audiences and attract new shoppers by keeping checkout simple, e.g., selling food, snacks, or agricultural produce sold on-site or delivered.

• Cross-border: These operations help cross-border businesses receive funds from international buyers quickly and securely, especially with the ability to efficiently manage multiple currencies effectively.

• Financial: E-payment is also suitable for financial businesses or organizations that require a platform capable of handling large amounts of money and transactions safely.

• Energy and utilities: Settling water, electricity, internet, or gas bills on the web, in particular the Metropolitan Electricity Authority or the Metropolitan Waterworks Authority, have begun using payment link systems to increase convenience and speed for customers and reduce staff work time.

• Transportation and logistics: People can pay via mobile device, cutting down on cash handling and shortening the time it takes to receive money when using Grab, LINE MAN, taxi, bus, parcel delivery, and domestic logistics services.

• Real estate: Booking a house or condo, paying rent or standard area fees through the e-payment system, reduces the steps in transferring funds and makes it simpler to track remittances.

• Education: Educational institutions that offer online tuition payment or enrollment can use e-payment platforms to provide convenience to students or parents.

• Health and beauty: Cashless tools support prompt bill settlement at hospitals, pharmacies, beauty clinics, spas, beauty salons, or massage parlors.

• Entertainment and recreation: Using e-payment makes it easier to book tickets in advance and pay for services such as movie theaters, amusement parks, water parks, zoos, museums, or concerts.

How does e-payment benefit businesses?

E-payment setups are a popular choice for shoppers and businesses in Thailand. The benefits are numerous, among them:

Convenience and speed

This method allows users to settle bills or send funds right away, 24/7, raising buyer satisfaction and overall ease. It meets the needs of modern shoppers, who expect fast and contemporary experiences.

Straightforward financial management

Account holders can review balances and histories in real time. Easily track and organize finances, from bill settlements to product purchases, enabling systematic financial management.

Increase your ability to compete

Real-time transactions help businesses to provide superior and more efficient services than their competitors. Those who roll out e-payment tools early will gain a competitive edge, expanding their buyer base, attracting new customers, and retaining existing ones.

Safety measures

Technology that supports real-time transactions can identify and detect unusual activities with AI, helping prevent fraud and corruption. It also adds the highest level of security with multilayered security systems, including OTP, biometrics, and tokenization.

Promote the digital economy

The wider use of e-payment is a step toward moving the Thai economy towards a cashless society. Businesses collect funds more easily and cut costs associated with collecting cash. E-payments also often offer promotions or discounts to encourage shoppers to spend, increasing value and saving money.

How to choose an e-payment channel

Choosing the right route is a key element in the success of any operation. Entrepreneurs must look at these factors when deciding to accept e-payment:

Meet business needs

Different types of operators have different requirements. For example, small businesses might want to sign up for a service with low transaction fees. In contrast, large ones could opt for a setup that facilitates rapid and secure money transfers, where pricing is a secondary consideration. Alternatively, a physical storefront benefits from QR code checkouts or a POS terminal.

Ease of use

Pick a route that is straightforward and friendly to shoppers. The setup has to stay flexible, well protected, and link smoothly to the seller’s ecommerce platform, accounting tool, or financial management system, such as supporting mobile or website transactions. Use marketing data to determine the best options to offer by understanding what your audience prefers for purchasing goods or services, and then select the most suitable payment method.

Security and fraud prevention systems

You must select a system that has high privacy protection and robust safeguards. Ecommerce operators offer checkout options with high protection levels that shield both customers and businesses from fraud, such as two-factor authentication (2FA) and data encryption. This builds confidence in every payment step. In addition, banks and payment providers must comply with PCI DSS standards and continually develop security features to enhance defenses.

Transaction fees

Understanding the details, from processing charges to hidden costs, helps prevent unnecessary extra expenses. Most platforms typically incur various charges, including transfer, credit card, and monthly subscription fees. Business owners compare these costs and choose a setup that meets their needs and fits within their budget.

Supports currency exchange

For enterprises serving a large number of international buyers or those handling numerous cross-border transactions, studying currency conversion fees and foreign exchange rates helps manage operations, cope with exchange rate fluctuations, limit risks, and stabilize sales revenue.

Customer service

It is important to go for a payment gateway provider that offers professional customer service and is readily available at all times, particularly with post-sales support. If problems arise during use, a reliable support team will reduce stress and help your business run smoothly.

How Stripe Payments can help

Stripe Payments provides a unified, global payments solution that helps any business—from scaling startups to global enterprises—accept payments online, in person, and around the world.

Stripe Payments can help you:

• Optimize your checkout experience: Create a frictionless customer experience and save thousands of engineering hours with prebuilt payment UIs, access to 125+ payment methods, and Link, a wallet built by Stripe.
  
• Expand to new markets faster: Reach customers worldwide and reduce the complexity and cost of multicurrency management with cross-border payment options, available in 195 countries across 135+ currencies.
  
• Unify payments in person and online: Build a unified commerce experience across online and in-person channels to personalize interactions, reward loyalty, and grow revenue.
  
• Improve payments performance: Increase revenue with a range of customizable, easy-to-configure payment tools, including no-code fraud protection and advanced capabilities to improve authorization rates.
  
• Move faster with a flexible, reliable platform for growth: Build on a platform designed to scale with you, with 99.999% uptime and industry-leading reliability.
  

Learn more about how Stripe Payments can power your online and in-person payments, or get started today.