Songkran rise spotted for Visa use
published : 28 Jun 2019 at 06:22
newspaper section: Business
Visa cardholders made 15% more transactions and spent 6% more during Songkran this year than they did last year, adding to signs that digital payment is on the rise.
The findings indicate that more Thais are embracing digital payment to make purchases both in stores and online as the country pushes towards becoming less cash-dependent, said Suripong Tantiyanon, country manager for Visa Thailand.
The data showed that 39% of Thai Visa cardholders spent within Thailand, 57% used their cards in their residential provinces and 4% made purchases abroad during the long holiday season.
The number of Thais that used Visa cards outside of the country during the holiday period increased 20% from a year earlier.
Thai-issued Visa cards were used most in Japan, followed by South Korea, the US, Britain and Hong Kong. Taiwan and Australia gained in popularity among Thailand-issued Visa cardholders, with more than 20% growth in transactions over the previous year.
Top spending categories for Thais travelling abroad included retail goods, apparel and accessories, lodging, department stores and restaurants.
Inbound travellers who spent during the holiday season in Thailand via Visa cards recorded a 4% increase from the previous year, led by those from the US, Britain, China, Germany, Australia, Japan, Russia, France, Singapore and India.
International visitors paid with Visa at top Thai destinations, including Greater Bangkok, Phuket, Chon Buri, Chiang Mai and Surat Thani.
Visa cardholders residing in the Greater Bangkok area mainly used their cards in Chon Buri, Nakhon Si Thammarat, Ayutthaya, Prachuap Khiri Khan and Nakhon Ratchasima.
Cardholders who live outside the Bangkok area recorded similar spending patterns, with their top destinations being Greater Bangkok, Chon Buri, Nakhon Si Thammarat, Nakhon Ratchasima and Rayong.
The number of transactions made on Visa cards in Chon Buri, Ayutthaya, Nakhon Ratchasima and Rayong increased over 20% from 2018. Top spending categories for Thais staying and travelling within Thailand during the period included fuel, food and groceries, restaurants, retail goods and home improvement and supplies.