Bangkok – The Bank of Thailand, in cooperation with the Puey Ungphakorn Institute for Economic Research, has announced that a survey into usage of Prompt Pay shows that over 2.7 million people use the electronic payment system daily due to its ease and a current waiver on fees.
The survey found that since the system was unveiled between January 2017 and August 2018, up to 28.7 million citizens have registered to use Prompt Pay using their identification cards, 15.8 million using their mobile phone numbers and 150,000 through other means.
In its first month, the system saw only 57,000 uses per day or 0.6 of its total potential user base. Over time however, daily usage has risen to 34.9 percent of all users, with up to 2.7 million people utilizing Prompt Pay each day.
So far, 83 million transactions worth a combined 442.1 billion baht have taken place through Prompt Pay. Usage in the second quarter of this year was six times that of the same period last year, coinciding with a waiver on fees for cross bank transfers.