The Commerce Ministry says up to 1.6 million vendors are ready to join the digital wallet scheme, which is expected to pump up the economy, increase store income and reduce the cost of living.
Following a visit to Nakhon Ratchasima province, Yanyong Phuangrach, advisor to the deputy prime minister, said vendors confirmed their readiness to take part in the government's scheme.
The Internal Trade Department reported roughly 910,000 stores are registered with the Business Development Department, while there are 140,000 Blue Flag stores nationwide covering 878 districts to handle digital wallet payments.
Other shops include 5,000 Blue Flag restaurants, 400,000 mom-and-pop shops and restaurants under local administrative organisations, 90,000 farmer shops and community enterprises, and 50,000 convenience stores under the Thai Retailer Association.
He said various shops and people in Nakhon Ratchasima see the economy as stagnant, with dwindling sales.
The government's 10,000-baht digital wallet handout is set to stimulate the economy, promote monetary circulation in each district, and ease the cost of living, said Mr Yanyong.
The scheme targets roughly 50 million Thais aged 16 and older earning no more than 840,000 baht per year or 70,000 baht per month, with less than 500,000 baht in their combined bank accounts (commercial banks and state financial institutions) as of March 31, 2024.
Eligible people and shops can start registering for the scheme in the third quarter, and the one-time handout is expected to begin in the fourth quarter.
Recipients can use the digital money to purchase food, beverages and consumer goods.
Products that cannot be purchased using the digital wallet include lottery tickets, alcohol, tobacco, marijuana, cannabis-related products, or items derived from these substances.
In addition, the handout cannot be used to buy gift cards, cash cards, gold, diamonds, pearls, or to pay off debts, tuition fees, or utility bills, including water, electricity or telephone charges, or to buy fuel or natural gas.
The subcommittee overseeing the implementation of the scheme ordered the Commerce Ministry to review the banned product list to include services and online purchases.
