Visa Thailand has observed slower growth in Visa card payments made by inbound tourists, in line with stagnant foreign tourist arrivals.
However, spending per visitor has increased, supported by "higher quality travellers", said the card company.
In April and May this year, foreign tourist spending in Thailand using Visa cards grew by 10% year-on-year, slowing from 15% growth in the first quarter and 20% growth in 2024.
This deceleration in growth reflects a decline in international arrivals, according to Visa Thailand's data.
Punnamas Vichitkulwongsa, country manager for Visa Thailand, said despite a static volume, spending per traveller continues to rise, consistent with the evolving lifestyles and spending behaviour of foreign visitors.
In 2024, US tourists recorded the highest spending via Visa cards among all international travellers, followed by those from the United Arab Emirates and Singapore.
Foreign visitors spent more in the Thai market in 2024 than the previous year.
Regarding Thailand's payment landscape, a Visa survey found Thai consumers still prefer face-to-face transactions over online payments.
Among in-person payment methods, cash remains the dominant method at 70%, followed by QR code payments (60%), and mobile wallets (58%).
The high proportion of cash usage is attributed to consumers in upcountry areas, according to Visa Thailand.
However, Mr Punnamas said Thai consumers are increasingly familiar with QR code payments through PromptPay, Thailand's national payment platform, which has been in place since 2016. This payment method is convenient and offers enhanced security.
PromptPay has increased digital payment adoption in Thailand, advancing the transition towards a cashless society, according to Visa Thailand.
The company introduced QR code payments via Visa cards in 2018.
This month it launched Visa QR Credit, the second phase of its QR code payment service, and expanded its network of financial partners for payment solutions to eight institutions. The participants comprise: Bangkok Bank, Kasikornbank, Siam Commercial Bank, Krungsri (Bank of Ayudhya), TMBThanachart Bank, Krungthai Card, Krungsri First Choice and Aeon Thana Sinsap Thailand.
He said Visa QR Credit offers greater convenience and security for users, while reducing costs for card issuers and merchants associated with digital transactions.
"We expect Visa QR Credit to help expand our customer base, particularly in provincial markets," said Mr Punnamas.
"This payment solution also supports the country's digital payment ecosystem and the shift towards a cashless society."
Thailand is the first country in the global Visa network to implement QR code payments and received the strongest user response, reflecting Thai consumers' familiarity with PromptPay and digital payment behaviour, he said.
