Online buyers prefer bank transfers | Bangkok Post: business

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Online buyers prefer bank transfers

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When it comes to buying online, Thais opt to pay via bank transfers rather than electronic cards due to security concerns, according to a study by the Bank of Thailand. 

In its latest Payment System Insight report for the fourth quarter of 2013, the central bank said the value of online payments via bank transfers was 589 billion baht in 2013, or 95.6% of total value of goods and services purchased on the internet. The amount was 23 times higher than online payments by electronic cards, which stood at 26.5 billion baht on credit cards and 188 million baht on debit cards.

The central bank also found the average amount of online purchases via bank transfers was 14,227 baht, more than double payments by credit cards (6,147 baht) and debit cards (1,669 baht).

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