Central bank urges more use of debit cards

BoT urges debit-card spending

Published: 19 Mar 2013 at 18.51
Online news: News

The Bank of Thailand (BoT) has announced plans to build easier electronic payment systems to encourage the public to use debit cards in place of cash to pay for goods and services.

The central bank said Tuesday that 40.93 debit cards were in circulation as of January, but spending averaged only 209 baht per card per month. In practice, this means only one per cent of consumers are using debit cards for purchases.

"The Bank of Thailand is coordinating with the Revenue Department to determine if tax reductions might motivate business owners and debit card holders to use debit cards to pay for goods and services," said BoT Deputy Governor Thongurai Limpiti.

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FoxBK
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Discussion 6 : 20 Mar 2013 at 12.016
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Conspiracy theorists, all of you. Where is your evidence to support your claims. We are virtually a cashless society in NZ for the last 10 years, and yet I don't see this armageddon you are all talking about
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nighthawk
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Discussion 5 : 20 Mar 2013 at 11.005
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I'm frustrated by Bangkok Post's news because the news always leave the big question mark. Why the BOT wants Thais to pay with debit cards? And get this: "She said the tax department also is studying measures on how to encourage more use of debit cards, as well as the impact such a switch would affect the central bank if consumers switch from cash to plastic." You mean the BOT doesn't know why it wants Thais to use more debit cards?

In conclusion, the BOT want Thais to pay for goods and service with debit cards. Why? Dun know.
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Worzel
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Discussion 4 : 19 Mar 2013 at 20.294
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Buy gold and silver.
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Worzel
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Discussion 3 : 19 Mar 2013 at 20.273
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This is a bad sign. A cashes society removes the freedom and privacy from a transaction. It's an attempt to establish a sense that money has no underlining value.

The upside is that far higher taxes would be paid by people that trade cash, market traders, street food etc. all suddenly on-line.

I will never get one!
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DickFarang
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Discussion 2 : 19 Mar 2013 at 19.482
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A first step towards internationalisation would be debit cards with a chip on them and ATMs that can read them.
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borrocks
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Discussion 1 : 19 Mar 2013 at 19.311
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dont fall for this garbage, its all part of making a cashless society ...if you dont comply with the fast approaching NWO your debt card will be blocked & your finance will by cut off

Imagine if a Government wanted to take 6.7/9.9 or 14.9% of your money held on your debit card balance...oh it could never happen I hear you say

Cash in your pocket is Cash, a piece of plastic can be blocked anytime
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Central bank urges more use of debit cards | Bangkok Post: business

BoT urges debit-card spending

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