The Ministry of Finance hopes to lift the economy via a new phase of the digital wallet programme and additional stimulus measures.
The first phase of the handout scheme was for welfare and disability cardholders, while the second focused on the elderly.
The first two phases did not actually involve a digital wallet, though the name has been widely used ever since the Pheu Thai Party introduced it as an election campaign promise in 2023.
For the remaining registered individuals on the government's Tang Rat app, Deputy Finance Minister Julapun Amornvivat expects the next phase of the digital wallet will begin distributing funds in the second quarter of this year.
The third phase will be distributed through an e-wallet open-loop payment system, designed to connect with various financial institutions across the country, he said.
The system has been set up and it is being tested, said Mr Julapun.
He said the results of the previous two phases were satisfactory, with surveys indicating most recipients used the funds for consumption, while some allocated the money for investment.
Mr Julapun said the Economic Stimulus Committee is scheduled to hold a meeting this month for relevant agencies to present additional stimulus measures for discussion.
In the first phase of the digital wallet programme, the government offered handouts to 14.5 million people. The second phase benefited around 3 million individuals.
Both phases involved disbursing funds through the Pao Tang app, allowing recipients to withdraw cash.
The digital wallet system has not been fully developed yet, as it prohibits cash withdrawals and requires spending at registered merchants participating in the programme.
Roughly 99.2% of eligible registrants received financial aid in the first phase, accounting for a total budget of 144 billion baht, noted the ministry.
According to a National Statistical Office survey of 31,500 recipients, 75% of the funds were spent on household necessities, with food and beverages the most popular items, followed by household goods.
The top three types of stores where the money was spent were community shops, street vendors and convenience stores.
For the second phase, which targeted senior citizens, the ministry said this group has a high propensity to spend the funds immediately, as they are considered a vulnerable demographic.
The financial support for the elderly was estimated to increase GDP by an additional 0.07–0.1 percentage points, according to the ministry.
