BANGKOK — At an announcement on the progress of the government’s 10,000 baht digital wallet recharge project on July 24, 2024, Prime Minister Srettha Thavisin did not address the media in person as usual. Instead, Deputy Prime Minister and Finance Minister Pichit Chuenban, together with Deputy Finance Ministers Chulapan Amornwiwat and Paopoom Rojanasakul, chaired the press conference at Government House.
The Finance Minister reiterated the objectives of this project: to promote cash circulation in local areas, reduce the cost of living, improve the quality of life of citizens, strengthen the economic resilience of communities and promote self-sufficiency. The project also aims to create and improve jobs and support the development of digital technological innovations for economic and social benefit.
He explained that once the project is launched, it will trigger four “economic hurricanes”:
- Spending between citizens and small retailers: This will boost the economy at the grassroots level, spread to all districts nationwide, ease financial burdens and reduce citizen spending.
- Spending between small retailers and large retailers.
- Spending between large retailers: This will improve purchasing power, consumption and investment opportunities.
- The power of individual spending: This will multiply economic activities, revitalize the country’s manufacturing sector and boost overall economic confidence.
The government will open registration for interested citizens from August 1 to 15 September 2024. The start of expenditure under the project is planned for the fourth quarter of 2024.
Deputy Minister Chulapan provided further details on the project:
Eligibility criteria for citizens:
- Must be registered as a resident.
- Must be a Thai national.
Must be at least 16 years old by the closing date for registration (15 September 2024) - Annual income must not exceed 840,000 baht for the 2023 tax year
- Must not have bank deposits of more than 500,000 baht, based on six types of deposits in baht as of 31 March 2024.
- Must not currently be serving a prison sentence.
- You must not have been disenfranchised or be required to repay benefits under other government measures/programs.
- You must not have violated the terms of other government measures/programs.
Timetable for project participation:
- General public registration: From August 1 to September 15, 2024 via the “Thang Rat” app on smartphones, with no limit on the number of participants.
- Registration for people without smartphones: Plans for later registration (16 September – October 15, 2024) are in preparation, with identification and address verification similar to smartphone users. Issues may be limited to the use of ID cards.
- Registration for retailers: Initially starting 1 October, more details on qualifications, application process and terms will be announced later.
- Issuance will begin in the fourth quarter of 2024.
Between citizens and small retailers: Spending must occur at small local stores, not large national or regional retail chains, and must occur in the same county in which the citizen is registered, with in-person transactions.
Between retailers: All types of retailers may transact without location restriction.
Approved products: All products except those on the negative list (e.g. lottery tickets, alcohol, tobacco, marijuana, energy products, electronics, etc.). Services are excluded from the project.
Registration and identification through the “Thang Rat” (ทางรัฐ) app:
- Method 1: Register and verify yourself via the app from 1 August to 15 September 2024
- Method 2: Verify via the app before 1 August 2024 and register from 1 August to 15 September 2024 to simplify the process.
At the end of the conference, the Minister of Finance invited citizens to download the “Thang Rat” app from the App Store for iOS or Google Play for Android smartphones.
For more information, visit www.digitalwallet.go.th or www.กระเป๋าเงินดิจิทัล.รัฐบาล.ไทย, or by calling the Government Information Center (Call Center) at 1111 from July 24.
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