Phumtham: Digital Wallet Stipend to Boost Thai Economy

[snoop1130]

 

BANGKOK (NNT) - The Ministry of Commerce has affirmed that the Digital Wallet stipend project, a key campaign promise of the ruling Pheu Thai Party, will significantly benefit the public and stimulate the country's economy. 

 

Deputy Prime Minister and Minister of Commerce, Phumtham Wechayachai, disclosed that despite some delays, the distribution of funds is scheduled to start in the fourth quarter of 2024 through the "Than Rath" mobile application, which was developed by the government.

 

To facilitate this initiative, the government and the Ministry of Commerce will enable retail stores and “Blue Flag” stores to register for the program in the third quarter of 2024. It is anticipated that 8-9 million vendors will participate, allowing the public to spend the digital money throughout all districts.

 

Phumtham highlighted that the digital wallet initiative is a well-researched measure designed to support people in various professions and is expected to stimulate the economy by creating jobs and meeting nationwide demands for goods. 

 

While some politicians and academics have criticized the program as politically motivated, Phumtham clarified that it is common for political parties to implement policies that assist the public and benefit the country. He emphasized that this policy has undergone thorough studies and is projected to deliver tangible results by the end of 2024.

 

By Naark Rojanasuvan

 

Source: NNT 2024-04-12

 

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[Gottfrid]

2 minutes ago, snoop1130 said:

The Ministry of Commerce has affirmed that the Digital Wallet stipend project, a key campaign promise of the ruling Pheu Thai Party, will significantly benefit the public and stimulate the country's economy. 

Double wrong! I will not significantly benefit the public, as 10k baht will only last 1-2 month if they are lucky. I will not stimulate the country's economy, but instead be a big nail in the coffin.

[AreYouGerman]

If the system sticks and will not be abandoned, it was worth it. The Phillipines use Gcash as digital wallet everywhere and it works great.

 

I don't like it because the main goal is obviously to get more control over the citizens money and transactions, but it is what it is. Digital Wallets for USD/EUR will come, regardless if we don't like it and the Thai experiment can shine some light on how it works and how it will be used against the citizens.

[dinsdale]

3 hours ago, snoop1130 said:

BANGKOK (NNT) - The Ministry of Commerce has affirmed that the Digital Wallet stipend project, a key campaign promise of the ruling Pheu Thai Party, will significantly benefit the public and stimulate the country's economy. 

RUBBISH!!!!!!!!!!!!!!!!!!!!!!!!!!! Very short term populist policy they still don't know how they're going to pay for. Take corrupt money out of the corrupt's pockets and there would be billions of baht to circulate in the economy rather than go to offshore accounts etc.. 

[hotchilli]

14 hours ago, snoop1130 said:

The Ministry of Commerce has affirmed that the Digital Wallet stipend project, a key campaign promise of the ruling Pheu Thai Party, will significantly benefit the public and stimulate the country's economy. 

Utter nonsense...

[ronster]

Will all end up in the pockets of the several large major companies that seem to own everything in this country.

[koolkarl]

This is just to get the masses used to paying with their phones, leading up to an eventual digital currency, a politicians dream where all transactions

of how much you spend, where and on what, are stored in a computer forever.  And don't forget to file your tax return as this project is more ammo for

the tax department.  Thailand is finished.