Visa has partnered with Siam Business Financial institution (SCB) and Malaysian fintech agency Comfortable House to increase its Faucet to Pay initiative to Chatuchak Weekend Market and Pratunam Market, two of Bangkok’s busiest retail areas.
The transfer goals to make it simpler for native retailers to just accept digital funds whereas providing vacationers a sooner and extra handy checkout expertise.
The answer permits retailers to just accept card funds immediately via their smartphones with out additional {hardware}, complementing current cost terminals.
By supporting cashless transactions, the initiative helps scale back reliance on money and helps Thailand’s shift towards a digital economic system.
Since its launch a yr in the past, the “Mae Manee Faucet to Pay” programme has gained traction amongst small companies nationwide, together with avenue distributors, cafés, salons, and group outlets that beforehand lacked entry to digital cost techniques.
Following this success, Visa and SCB are increasing the programme to extra provinces and retail segments to make digital funds extra accessible.
SCB stated the partnership marks a milestone in its digital technique, making it the primary financial institution in Thailand to allow retailers to just accept Faucet to Pay immediately through cellular gadgets.
Choenporn Sawasdivorn, Head of Shopper at Visa Thailand, stated,
“Over the previous yr, contactless funds in Thailand have surged, with greater than 66 per cent of Visa transactions now happening through contactless strategies every month. This speedy development is pushed by robust adoption amongst small companies from avenue meals distributors to native outlets who’re utilising Faucet to Pay to draw extra clients and broaden their operations.
By equipping retailers with fashionable cost options, Visa will not be solely enhancing the procuring expertise for each vacationers and locals, but additionally serving to to construct a extra vibrant, resilient, and digitally linked economic system throughout communities all through Thailand.”
Joel Tay, Chief Government Officer of Comfortable House, added,
“Contactless cost acceptance, which was as soon as pricey and fewer accessible for Thai small companies, is now inexpensive, enabling even the smallest companies to just accept playing cards alongside QR funds.
The answer we’ve launched with Visa and SCB empowers Thai customers and vacationers the liberty to decide on a handy, friction-free and cost-effective solution to pay.”
Visa can be working a promotion rewarding Faucet to Pay customers with vouchers via December 2025 to encourage broader adoption amongst consumers.
Featured picture: (From left) Natthanart Dontree, Director of Account Government, Visa (Thailand); Joel Tay, CEO, Comfortable House; Panisa Thongma, Director, Chatuchak Market; Chernporn Sawaddiworn, Head of Shopper, Visa (Thailand); Vilasinee Leamkeawsakul, SVP of Digital Fee Answer, SCB; and Pornprapa Sinsawat, Fee Answer Providers, Digio
