Thailand's Cashless Leap: Ahead of the Asean Pack by 2028

[Photoguy21]

Just now, hotandsticky said:

 

 

Cash gets stolen/lost, and is target by thieves/scammers as well.

 

 

There will always be a place for cash (unless a vendor uses their right not to accept it).

As I said have the option of both cash and card. As for scammers well if people believe they will get something for nothing then they are open to being scammed.

[animalmagic]

11 hours ago, George FmplesdaCosteedback said:

There is no such thing as "Free". They sell your information and at the very least you will be plagued with adverts but it could be worse, much worse.

Absolutely correct, if you are not charged a fee then you are the commodity.

[thaibeachlovers]

On 10/5/2024 at 11:08 AM, webfact said:

Thailand ranks third in the region for minimising cash use, with only 47% of wallet contents being physical cash, just behind Vietnam and Malaysia.

Despite the obvious bias of the article, 47% is not insignificant.

 

Given that cashless means surrendering your money to a phone company and the government, only fools, IMO, think it's a good idea.

Once the cash option is gone, it's Chinese type total control of the population.

Still, it's obvious that many in society are sheeple, and willing participants in their own subjugation.

Baaaah.

[Lorry]

21 hours ago, kwilco said:

no true - people don't understand cash - tey just think they can avoid tax with it.

It's about avoiding surveillance.

Since Starbucks started tracking every single cup of espresso I buy, I don't go there anymore. 

I consider my espresso my private life.

 

Plus: If Starbucks wants to collect (and sell for good money) my data,  they should pay me for them. Data are not cheap. 

 

 

[LukKrueng]

14 hours ago, Hunz Kittisak said:

Cash or cashless why not have both alongside each other? It’s always good to have options

 

Good for the people, not so for the governments

 

 

12 hours ago, George FmplesdaCosteedback said:

There is no such thing as "Free". They sell your information and at the very least you will be plagued with adverts but it could be worse, much worse.

 

Everything you do, everywhere you go - you leave a trail that can be used to send you ads and offers. It is up to you if you fall for it or not. 

You use gmail? facebook? any other social media? It's all for free BECAUSE the companies that offer the services can cash on your activities in other ways. How many people out there are willing to actually pay for all those free services? and when some services actually cost money - such as netflix, spotify etc' - how many people are trying to work around the limitations and get more than they've paid for?

 

7 hours ago, digger70 said:

Thailand's Cashless Leap: Ahead of the Asean Pack by 2028

 

It's the banks /Government / Share Holders that want the  cashless society,  Now  if one has 1000 THB in Cash it is worth in Value always  1000TH  no matter how many times it changes Hands .

Now if one pays with a card 1000THB Reduces Every time  in Value it gets processed and the banks  collect a % of that 1000THB.

So now after a number of Card Transaction ones 1000THB is Declining in favor to the banks .

Just look at the Extra Profit the Banks make per day say for for  millions of Card Transactions.

Is it Clear Now Who and Why they want a Cashless Society?

Clear as mud they say.  🙏

 

I don't have statistics, but pretty sure most transactions in Thailand are by QR payment - directly from 1 bank account to another. At the moment there are ne fees collected from either end.

As for businesses that accept CCs and get charged % for it - the bank's cut is already calculated into the selling price (and in small shops where it isn't, they charge that % in addition to the selling price - so the buyer pays extra but the business gets the full 1000 THB). 

Besides, those big businesses pay their suppliers by cheques, money transfers and maybe even some cash, so no % deductions again and again as you describe.

 

 

[Bday Prang]

                   That  there are people advocating for a cashless society is absolutely astonishing,  there is absolutely nothing to be gained .  At present there are currently just  two options,   cash or digital.   

                   So, How can there possibly be any advantage for anybody  in removing one of those options ? 

                  Anybody arguing for the removal of cash as a payment option needs their head examining,  they also need to basically S.T.F.U  and mind their own business.  Pay with your digital monopoly money all you want  if it makes you feel young and trendy, but  how others choose to pay is really none of your concern, live and let live .

                   As usual one side in this argument is very vocal, I have not yet heard any fans of cash calling for the end of digital payment options.  So why do the fans of digital seek to impose their views on others?

                   Answers on a postcard please

 

[Photoguy21]

2 hours ago, hotandsticky said:

 

 

Cash gets stolen/lost, and is target by thieves/scammers as well.

 

 

There will always be a place for cash (unless a vendor uses their right not to accept it).

I think I would rather get a few Baht stolen than my entire bank wiped out, wouldn't you? I understand you reason but I also understand you have very little knowledge of how hackers and scammers work. If you did I think you may change your mind.

[Skeptic7]

Certainly it's intended to mean "Predominantly Cashless" or "A Leader In Cashless"...not 100% cashless. So everyone just relax and pull some of that cash stash out of the mattress. 🤣

[Lancelot01]

On 10/5/2024 at 5:40 AM, smedly said:

the ultimate control, very disturbing 

 

while it is convenient to pay by card and various electronic methods we should all fight against this, cash is raw and once in your pocket is yours, if you remove cash you money is no longer yours, you are at the mercy of banks and financial entities to control everything without an alternative

And, in a cashless society, the banks will be free to charge 'transaction' fees on all transactions similar to the current credit/debit card fees.

[stix40]

Cashless society 

This must be down to rising debt ! 

As looking around alot of Thais appear to be cashless 😜

[lapamita]

On 10/5/2024 at 1:40 AM, smedly said:

the ultimate control, very disturbing 

 

while it is convenient to pay by card and various electronic methods we should all fight against this, cash is raw and once in your pocket is yours, if you remove cash you money is no longer yours, you are at the mercy of banks and financial entities to control everything without an alternative

yes fully agree  and contraoll of goverment   ...and the FEES once cash is gone, will increase , and on every dollar you spend the banks will have a share

Cash have no lobby..e cash have a hudge lobby

 

once people realized it will be to late

 

cashless will have a hudge impact on Gold, in the  lonterm 

[Oink]

Who pays for all these QR code / credit card readers and wifi connections anyway?

No Cash, no going to the market to buy vegetables, no more street food etc.

Never going to happen, especially with poorer people who do not have 5G iphones.