BANGKOK, Sept 23 (TNA) – The Bank of Thailand reported popular types of business for card-holding consumers with retail being their top choice in June.
The central bank stated that several types of business started to recover in June and they included direct sales, retail and services. The bank found that amid the coronavirus disease 2019, customers used cards to pay for their purchases. Payments via electronic data capture (EDC) devices were declining while online payments were rising.
Last year card payments via EDC devices formed 83.7% of all card payments and had grown by 67.2% over the past five years. Online payments were soaring over the past five years, growing by 671% and reflecting transition to digital lifestyles.
In June there were 64.7 million debit cards. Payments with debit cards via EDC devices and online payments amounted to 1.5 billion baht. Payments through EDC devices accounted for 90% of all card payments.
From January to June, payments with debit cards dropped by 14% among Thai people and 92% among foreigners. The five most common business types receiving debit card payments were retail, car maintenance, refueling, automotive business and supermarkets.
There were 24.3 million credit cards and their transactions amounted to 12.5 billion baht. Credit card payments via EDC devices formed 84% of all payments. The use fell by 13% among Thai people and 81% among foreigners. The five most common business types for credit card payments were retail, refueling, supermarkets, automotive business and restaurants. (TNA)
