Thai Traders Doubt Full Benefit of Government's 10,000-Baht Digital Wallet Plan

[snoop1130]

 

The local media in Khon Kaen, Thailand, took the views of local traders on August 6, 2024 about the government's new 10,000-baht digital wallet initiative. The governor had launched the option to register for this plan on August 1st through an app called "Thang Raj".

 

The survey revealed that many small traders are resistant to join the initiative as they do not think it will profit their businesses. They are also worried about the safety of their personal information, fearing it might be shared with fraudulent call centers.

 

One of the traders, Mr. Prayoon Lunput, 54, who sets up his stall at the Bang Lamphu Market, prefers to operate with cash to maintain his daily money turnover for buying fresh products. He expressed concerns about the hassle of complying with this digital initiative with his unregistered businesses.

 

The idea of registering for this initiative did not appeal to him from the start. He was worried of being hit with retroactive taxes, just like earlier initiatives such as the “Half-Half Co-Payment Scheme” by the same governor. According to him, most traders deal with small sums on a daily basis and waiting six months for their payouts is unpractical. He called for initiatives that promote daily cash flow for businesses.

 

Ms. Aryanee Niampradit, another trader, also emphasized the ambiguity of the digital initiative's details, leaving many unsure of its actual benefits and how the funds could be used. Concerns were also raised about fraud related to call center scams due to inadequate security measures undertaken by the government.

 

According to Aryanee, the traders worry about their data privacy and retroactive taxes. She pointed out that the initiative seems to offer minor relief only, likening it to a drop in a desert. She argued against the necessity and effectiveness of online registrations for average traders. She painted the initiative as a band-aid solution instead of a real economic stimulant.

 

In closing, Aryanee expressed that despite the government's claims, the actual impact of this initiative on improving the local economy is still uncertain, reported The Pattaya News.

 

Photo: The Pattaya News

 

-- 2024-08-07

 

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[Tropicalevo]

1 hour ago, snoop1130 said:

They are also worried about the safety of their personal information, fearing it might be shared with fraudulent call centers.

 

1 hour ago, snoop1130 said:

He was worried of being hit with retroactive taxes, just like earlier initiatives such as the “Half-Half Co-Payment Scheme” by the same governor

 

1 hour ago, snoop1130 said:

most traders deal with small sums on a daily basis and waiting six months for their payouts is unpractical.

 

Smart guy.

He is right to be worried and the concerns above are only the obvious ones.