Thailand’s payment card transaction value (including POS payments and ATM cash withdrawals) is expected to reach THB5.8 trillion ($164.6 billion) in 2029, supported by growing preference for digital payments, reveals GlobalData, a leading data and analytics company.
GlobalData’s Payment Card Analytics reveals that card payments value (including payments at POS and initiated remotely) in Thailand registered a healthy compound annual growth rate (CAGR) of 7.1% between 2020 and 2024 to reach THB2.2 trillion ($63.6 billion) in 2024. On the other hand, card usage for ATM cash withdrawals is decreasing with total ATM cash withdrawals registering negative CAGR of 12.4% during the same period.
Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, comments: “Despite the high usage of cash and digital wallets, payment cards are also gaining prominence, supported by the rising banked population, and robust POS infrastructure. Furthermore, the availability of low-cost basic banking accounts and cards as well as the proactive initiatives by banks and government bodies to drive financial inclusion, are all supporting the shift towards digital payment methods.”
Despite the growing card usage, payment cards are predominantly utilized for ATM cash withdrawals than card payments at POS terminals. ATM cash withdrawals represented higher share of 58.9% of the total payment card transaction value in 2025. However, this phenomenon is gradually changing with this share continues to decrease due to the growing preference for digital payment methods, which offer greater convenience and security.
Card payments (at physical POS terminals and initiated remotely), on the other hand, are steadily increasing, with their share is estimated to reach 41.1% in 2025. This growth can be attributed to the rising consumer awareness, growing POS terminalization and pricing benefits associated with payment cards. However, the strong preference for digital wallets for low-value transactions is hindering the faster adoption of card payments.
The Bank of Thailand (BoT), the central bank of Thailand, had implemented measures to advance digital payments through initiatives such as the Payment Systems Roadmap (2022-2024). This roadmap is designed to enhance digital payments through the establishment of an interoperable payment infrastructure, the development of a biometric standard for identity authentication, the introduction of cross-border payment, and the promotion of widespread adoption of digital payments, including card transactions.
The growing adoption of contactless payment will also contribute to the overall card usage at POS. Thailand has been actively integrating contactless payment systems into its public transportation network, enhancing convenience and efficiency for commuters. For instance, in August 2025, Krungthai Bank and the Mass Rapid Transit Authority of Thailand (MRTA) launched the Mangmoom card, a chip-based contactless card for fare payments across all MRT lines. This card can also be used for retail purchases. The service is set to expand to include the Airport Rail Link by October 2025.
Sharma concludes: “Looking ahead, card payments at POS is set to register robust growth over the next five years with a CAGR of 7.5%, supported by increasing consumer awareness for payment cards amid a boarder digital transformation. The developing card acceptance infrastructure and shift in consumer preferences towards digital payments will also contribute to this growth. Card usage for cash withdrawals at ATMs, on the other hand, will continue to decline reflecting growing preference for digital payments.”
