Cash in Thailand

A recent survey of 1,000 Thai consumers indicates that, while cashless options are gaining in popularity, many people continue to choose cash and a significant minority cannot see themselves managing without it.

Conducted in October 2021 by Visa as part of a broader study of Asian markets, the research revealed 57 percent of Thais use cash at least once a week and 21 percent would not be confident to do without it for a whole day. Despite changes wrought by the pandemic, 39 percent of people reported they were carrying the same or more cash than a year ago.

The wider study suggested that, across major Southeast Asian markets, debit and credit cards remain the most widely used cashless options, however e-wallets and contactless payments are rapidly gaining in popularity.

Overall, payment choice in Thailand is increasing, with contactless payments now an option on key train routes, bus and boat services alongside cash. Cryptocurrency was also highlighted as being of interest, with the study finding 85 percent of Thais are interested in using it to make payments should the option become available in future.