NationThailand-Oct 4
Visa revealed the latest findings from its Consumer Payment Attitudes Study , where Thailand leads the Southeast Asia region in the frequency of mobile banking application usage. Based on this regional study, 97 % of Thai consumers said they use mobile banking applications at least once a week or more. This is followed by Vietnam (95%) and Indonesia (90%). On average, almost nine in 10 Southeast Asian consumers (89%) use mobile banking applications at least once a week. Mobile banking applications continue to be the preferred method of online banking across all surveyed markets. Thailand ranks first, with 96 % of consumers favouring banking applications over websites, followed closely by Indonesia (95%) and Vietnam (92%). Punnamas Vichitkulwongsa, Country Manager for Visa Thailand, said: ” Digital payments become a part of everyday life for consumers across Southeast Asia, as they have more ways to pay with contactless cards, smartphones, and QR codes. We also continue to see digital payments being increasingly embraced across all spectrums of businesses, from local food stalls to mass public transportation operators. Visa is committed to working with various stakeholders in the payments ecosystem to deliver a seamless digital payments experience that is fast, convenient, and secure for everyone and everywhere.” The more digital payments are used by consumers across the region, the less amount of cash they carry. The study shows that 46 per cent of Southeast Asian consumers have carried less cash compared to the previous year, led by Vietnam (56%), Malaysia (49%), and Thailand (47%). The top reasons for carrying less cash are 1) using more contactless digital payments, 2) more places accepting digital payments, and 3) concerns about cash being lost or stolen. Read more at: https://www.
