The Global Payments Report

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Payment insights that drive growth

When it comes to global payments, there’s no standard consumer or one-size-fits-all solution. Each market’s payment landscape is unique, and so are its participants. How do you decide what’s relevant to your business?

The Global Payments Report helps you make sense of it all. Now in its eighth year, it gives you actionable insights and relevant facts across 40 markets to help grow your business.

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Keeping up withyour customers

From new real-time schemes to alternative payment methods, the world of payments is changing fast. How do you keep up with the latest trends where you do business? What do you need to know to successfully move into a new market? Explore our interactive map to see how consumers prefer to pay.

DISCOVER THE MOST POPULAR PAYMENT METHODS AROUND THE WORLD

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How do you decide what's relevant to your business?

The Global Payments Report 2023 helps you make sense of payment complexity. We’ve been tracking consumer behavior at the checkout for the past eight years. So, with our expert insights at global, regional and market levels, you’ll come away with a better understanding of the technologies, methods and consumer preferences that are reshaping payments.

Explore our in-depth research into key global payment trends

Account-to-account (A2A) payments are taking off, driven by real-time payment systems

A2A is disrupting payment value chains by winning over merchants with lower costs and immediate availability of funds

Consumer use of credit cards remains strong

Credit card transaction values continue to increase, largely due to the resurgence of discretionary spending and global travel post-pandemic

Digital wallet growth accelerates

Fintechs, banks, neobanks, super apps, Big Tech and device manufacturers are vigorously competing for this fast-growing payment segment

Cash’s decline continues, though “cashless societies” aren’t imminent

Digital payment methods continue to displace cash, yet the essential role of cash in most economies establishes a firm floor

Buy now, pay later (BNPL) enters the next phase of its evolution

The BNPL space is maturing across a more diverse range of providers, verticals, repayment plans and regulatory schemes

Cryptocurrencies are still in their infancy for person-to-business (P2B) payments

However, more merchants are discovering the benefits of accepting cryptocurrencies as payment for goods and services

E-commerce growth remains robust in every global region

The forecast remains bullish, despite more modest growth rates versus the early pandemic

Preview a market

Our in-depth guides give you an up-close look at 40 markets for a truly local perspective. Explore this sample to see a few of our valuable insights.

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Thailand

2022 payment highlights

  • Thailand continues to see high rates of cash use, though that rate continues to decline steadily. Cash accounted for 56% of POS transaction value in 2022, the highest in APAC among the markets covered in GPR 2023. Though it’s still the majority payment method, cash fell from its 63% share in 2021.
  • Payment cards have never caught on in any significant way among Thailand’s consumers, though they do continue to occupy an important, if niche, market. In 2022, credit cards accounted for 13% of e-com and 11% of POS transaction value, while debit cards represented 8% of e-com and 7% of POS spend.
  • Account-to-account (A2A) payments are increasingly an anchor in Thailand’s consumer payments market. A2A payments are made primarily via PromptPay, a real-time system that facilitates payments directly from bank accounts via a variety of apps. PromptPay has propelled A2A payments to become Thailand’s leading payment method online, accounting for 42% of e-com transaction value in 2022, up from 38% in 2021.
  • Digital wallets continue to gain in popularity both online and in-store. In 2022, wallets accounted for 25% of e-com and 23% of POS transaction value. TrueMoney Wallet is the leading wallet in Thailand, with a majority (56%) of our 2022 survey respondents in Thailand indicating it was their preferred wallet. Other important wallets in Thailand include Rabbit LINE Pay, mPAY and ShopeePay.

Real-time payments spotlight

  • Thailand has among the world’s largest and most successful real-time payment networks in PromptPay. Launched in 2017 as a project of National ITMX and the Thai Bankers’ Association, PromptPay allows real-time funds transfer between accountholders based on AnyID, a multi-proxy platform that supports bank account numbers, biller ID, digital wallet ID, mobile phone numbers, national ID or Tax ID. PromptPay is available at ATMs, bank branches, call centers, digital wallets, internet banking sites and mobile banking apps.
  • In September 2022 alone, PromptPay processed 1.4 billion transactions totaling more than 3.6 trillion Baht, or approximately $11.6 billion. PromptPay supports a broad range of payment use cases and overlay services: e-commerce payments, request to pay, standardized QR code for payments by mobile phone at merchant locations, payee confirmation, corporate payments and income tax refunds.
  • In April 2021, the Monetary Authority of Singapore (MAS) and Bank of Thailand (BoT) announced that they had successfully linked PromptPay with Singapore’s PayNow. Though among the first real-time payment systems to establish cross-border interoperability, it’s certain not to be the last. The BoT is exploring additional cross-border interoperability between PromptPay and Malaysia’s DuitNow and India’s UPI real-time payment systems.
2022 e-com payment methods

Estimated share of transaction value*

Account-to-account (A2A)
42
%
Digital Wallet
25
%
Credit Card
13
%
Cash on Delivery (CoD)
10
%
Debit Card
8
%
Buy Now Pay Later (BNPL)
1
%
PrePay
1
%
Thailand

*Totals may not equal 100% due to rounding.

2022 POS payment methods

Estimated share of transaction value*

Cash
56
%
Digital wallet
23
%
Credit card
11
%
Debit card
7
%
POS financing
2
%
Prepaid card
1
%
E-com as % of all commerce
2022
2026
21
%
25
%

Mobile as % of all e-com

63
%
69
%
Popular alternative payment methods
2021 card brand breakdowns (e-com and POS)
Image of 2021 card brand breakdowns doughnut chart (e-com and POS) Credit cart icon
2%
6%
25%
67%
VISA
Thai Payment Network
MASTERCARD
Others
POS market size projections (US$ Billions)
2022e
$280
POS CAGR
= 4%
2026f
$327
E-com market size projections (US$ Billions)
2022e
$76
e-com CAGR
= 9%
2026f
$107
e=estimate
f=forecast