Thailand’s payment card transaction value, including point of sale ( POS ) payments and ATM cash withdrawals, is expected to reach 5.8 trillion baht ( US$164.6 billion ) in 2029, supported by a growing preference for digital payments, according to a recent report.

Card payments value ( including payments at POS and those initiated remotely ) in Thailand registered a healthy compound annual growth rate ( CAGR ) of 7.1% between 2020 and 2024 to reach 2.2 trillion baht ( $63.6 billion ) in 2024, finds GlobalData’s Payment Card Analytics report. On the other hand, card usage for ATM cash withdrawals is decreasing with total ATM cash withdrawals registering a negative CAGR of 12.4% during the same period.

Despite the growing card usage, payment cards are predominantly used for ATM cash withdrawals than card payments at POS terminals. ATM cash withdrawals represented a higher share of 58.9% of the total payment card transaction value in 2025. However, this phenomenon is gradually changing with this share continuing to decrease due to the growing preference for digital payment methods, which offer greater convenience and security.

On the other hand, card payments ( at physical POS terminals and initiated remotely ) are steadily increasing, with their share 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, the country’s central bank, has 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 payments 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, Krungthai Bank and the Mass Rapid Transit Authority of Thailand 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.

“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,” says Ravi Sharma, GlobalData’s lead banking and payments analyst. “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.

“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 broader digital transformation. The developing card acceptance infrastructure and shifts 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.”