Digital wallet scheme

Digital wallet scheme
Logo of the Thang Rath app used in the scheme
CountryThailand
Prime Minister(s)
MinistryMinistry of Finance
Key people
  • Srettha Thavisin (Prime Minister, Minister of Finance)
  • Julapun Amorvivat (Deputy Minister of Finance)
Launched25 September 2024; 8 days ago (2024-09-25)
Nationwide
StatusOngoing
Websitedigitalwallet.go.th

The digital wallet scheme is a government handout scheme created by the Thai government that aims to allow eligible Thai citizens to receive ฿10,000 (US$275) each through a digital wallet to spark economic growth. The scheme is the flagship policy of the Pheu Thai party and the Srettha and Paetongtarn governments. The around ฿450 billion handout is estimated to reach 45 million registered people.

The scheme is designed to spark economic growth in Thailand's sluggish economy post-COVID-19 by increasing the country's GDP, growth and household purchasing power through promoting consumption at the local level amongst lower level income earners.[1][2] It also aims to promote digitisation.[2] Phrase 1 of the scheme was launched on 25 September 2024, with the initial 14.2 million recipients being welfare card holders and the disabled.[3] It has been criticised by economists who label it as costly and harmful to Thailand's economy.[4]

  1. ^ "Thailand's top stocks reap gains on digital wallet rollout". Nikkei Asia. Retrieved 2024-10-01.
  2. ^ a b "Thailand's Digital Wallet Goes Live – Global Policy Institute". Retrieved 2024-10-01.
  3. ^ "Thailand kicks off first phase of $14 bln "digital wallet" stimulus scheme". Reuters. 25 September 2024.
  4. ^ "Thailand's controversial $21 billion digital cash scheme begins but does it really help its people?". ABC News. 2024-08-01. Retrieved 2024-10-01.