{ "jurisdiction_id": "TH", "jurisdiction": "Thailand", "url": "https://payments.gi/jurisdictions/thailand/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-11", "schema_version": "world-payments-v1", "counts": { "modules": 14, "sourced_findings": 53, "source_register": 107 }, "modules": [ { "code": "W1a", "name": "Licensing, Authorisation & Market Access", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/thailand/#w1a-licensing-authorisation-market-access", "standing_position": "BOT operates payment-system licensing under the Payment Systems Act B.E. 2560 (2017). BOT layered on the SIRPS supervisory tier (eff. 21 Feb 2026), designating PromptPay as the first SIRPS, and issued Thailand's first Virtual Bank licence (CLICX — Krungthai Bank/AIS/PTT OR consortium, licensed 14 May 2026 under BOT Notification FPG.6/2567), targeting a June 2026 launch.", "findings": [ { "finding": null, "instrument_type": "primary_statute", "source": "https://www.bot.or.th/en/our-roles/payment-systems/payment-act-oversight.html", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "ministerial_notification", "source": "https://www.bot.or.th/content/dam/bot/fipcs/documents/FPG/2561/EngPDF/25610195.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "primary_statute", "source": "https://www.bot.or.th/content/dam/bot/fipcs/documents/FPG/2561/EngPDF/25610100.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "licence_structure", "source": "https://paymentbrief.com/markets/thailand/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "licensing_requirement", "source": "https://kpmg.com/th/en/home/insights/2023/03/legal-news-update-issue-23.html", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W1b", "name": "Conduct, Safeguarding & Financial Promotions", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/thailand/#w1b-conduct-safeguarding-financial-promotions", "standing_position": "Under the Emergency Decree, banks, e-money providers, digital-asset operators and telcos carry joint/pro-rata liability for technology-crime losses absent demonstrated compliance. BOT has added youth-specific transfer caps (rollout Sep-Oct 2026) atop the existing mule-account taxonomy and Central Fraud Registry; SEC has imposed pro-rata liability on digital-asset operators for mule-account failures.", "findings": [ { "finding": null, "instrument_type": "bot_notification", "source": "https://www.bot.or.th/content/dam/bot/fipcs/documents/FPG/2561/EngPDF/25610093.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "conduct_regime", "source": "https://multilaw.com/Multilaw/ZENTSO/BusinessGuides/Presentation/Section_Home.aspx?GuideId=2&GuideCountry=Thailand&GuideSection=547", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "bot_notification", "source": "https://www.bot.or.th/content/dam/bot/fipcs/documents/FPG/2565/EngPDF/25650188.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "consumer_protection_law", "source": "https://stripe.com/resources/more/how-to-accept-credit-card-payments-in-thailand", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W2", "name": "Stablecoins & Digital Money", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/thailand/#w2-stablecoins-digital-money", "standing_position": "USDT/USDC approved for regulated trading (16 Mar 2025); BOT THB-stablecoin Programmable Payment sandbox expanding; means-of-payment prohibition retained; dedicated statute pending.", "findings": [ { "finding": null, "instrument_type": "sec_notification", "source": "https://www.globallegalinsights.com/practice-areas/blockchain-cryptocurrency-laws-and-regulations/thailand/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "regulatory_status", "source": "https://practiceguides.chambers.com/practice-guides/fintech-2026/thailand/trends-and-developments", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "sandbox", "source": "https://www.lexology.com/library/detail.aspx?g=a3817f0d-fa22-4594-98e7-bff1d3e22971", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "sec_notification", "source": "https://www.coindesk.com/policy/2025/03/10/thailand-regulator-adds-usdc-usdt-stablecoins-to-approved-cryptocurrencies", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W3", "name": "Operational Resilience & Critical Infrastructure", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/thailand/#w3-operational-resilience-critical-infrastructure", "standing_position": "Operational resilience for payment providers is governed by BOT IT-risk supervision and information-security notifications under the PSA, requiring business-continuity planning, incident response, backup systems and third-party/outsourcing oversight. BOT issued AI Risk Management Guidelines for financial service providers in September 2025 and aligns with the National Cybersecurity Act B.E. 2562 (2019).", "findings": [ { "finding": null, "instrument_type": "bot_supervision", "source": "https://www.bot.or.th/en/our-roles/payment-systems/information-technology-risk-supervision.html", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "bot_guideline", "source": "https://www.tilleke.com/insights/thailand-issues-ai-risk-management-guidelines-for-financial-service-providers/25/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "bot_notification", "source": "https://www.bot.or.th/content/dam/bot/fipcs/documents/FPG/2551/EngPDF/25510316.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "national_policy", "source": "https://techforgoodinstitute.org/insights/country-spotlights/rules-in-action-thailands-evolving-tech-governance/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W4", "name": "Scheme & Network Compliance", "confidence": "Assessed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/thailand/#w4-scheme-network-compliance", "standing_position": "Card payments in Thailand operate over Visa, Mastercard and local networks under BOT supervision and PCI DSS, with BOT terms regulating card-fee collection and limiting additional surcharging except as permitted. Thailand does not operate an EU-style statutory interchange cap; pricing is governed by scheme rules plus BOT fairness/transparency terms. The national QR standard is BOT-mandated and interoperable.", "findings": [ { "finding": null, "instrument_type": "scheme_compliance", "source": "https://stripe.com/resources/more/how-to-accept-credit-card-payments-in-thailand", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "scheme_rulebook", "source": "https://www.visa.co.th/en_TH/support/small-business/regulations-fees.html", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "market_structure", "source": "https://paymentbrief.com/markets/thailand/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W5", "name": "Payment Corridor Dynamics", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/thailand/#w5-payment-corridor-dynamics", "standing_position": "Thailand is a regional leader in instant cross-border payments: its PromptPay rail launched the world's first real-time FPS linkage with Singapore's PayNow in 2021 and now connects via QR/FPS to Singapore, Malaysia, Indonesia, Vietnam, Cambodia, Lao PDR, Hong Kong, Japan and others under the ASEAN Regional Payment Connectivity initiative, with Project Nexus rollout in 2026. High-value cross-border FX settlement runs over BAHTNET PvP links.", "findings": [ { "finding": null, "instrument_type": "corridor_linkage", "source": "https://www.mas.gov.sg/news/media-releases/2021/singapore-and-thailand-launch-worlds-first-linkage-of-real-time-payment-systems", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "corridor_linkage", "source": "https://www.bot.or.th/en/financial-innovation/digital-finance/digital-payment/cross-border-payment.html", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "multilateral_initiative", "source": "https://ps-engage.com/cross-border-qr-payments-driving-asias-digital-integration/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "pvp_settlement", "source": "https://www.hkma.gov.hk/eng/news-and-media/press-releases/2014/07/20140728-3/", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W6", "name": "Industry Structure & Commercial Dynamics", "confidence": "Assessed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/thailand/#w6-industry-structure-commercial-dynamics", "standing_position": "Thailand's payments market is large, fragmented and competitive, anchored by mass-market PromptPay (90M+ registered accounts on a ~72M population) and a concentrated e-wallet segment led by TrueMoney (Ascend Money). Bank-PSP and fintech players coexist; foreign processors (2C2P, Opn, Adyen, Stripe, Checkout.com) typically enter via local licensing or partnership. Virtual banks awarded mid-2025 will reshape structure from 2026.", "findings": [ { "finding": null, "instrument_type": "market_data", "source": "https://multilaw.com/Multilaw/ZENTSO/BusinessGuides/Presentation/Section_Home.aspx?GuideId=2&GuideCountry=Thailand&GuideSection=547", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market_share", "source": "https://paymentbrief.com/markets/thailand/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "structural_shift", "source": "https://www.forvismazars.com/th/en/insights/doing-business-in-thailand/audit/what-thailand-s-financial-services-firm-must-watch", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W7", "name": "Legal & Litigation", "confidence": "Assessed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/thailand/#w7-legal-litigation", "standing_position": "Enforcement in the payments-adjacent space is currently dominated by SEC digital-asset actions and cyber-fraud prosecutions. In 2025 the SEC pursued licence revocations and criminal complaints against unlicensed operators, blocked five offshore exchanges (Bybit, 1000X, CoinEx, OKX, XT.COM) from 28 June 2025, and in early 2026 filed criminal complaints over joint unlicensed exchange operations and Worldcoin-related trading. Cyber-fraud prosecutions under the 2025 Royal Decree carry up to 20-year sentences.", "findings": [ { "finding": null, "instrument_type": "enforcement_action", "source": "https://aimbangkok.com/thailand-digital-asset-regulation-2025/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "enforcement_action", "source": "https://practiceguides.chambers.com/practice-guides/fintech-2026/thailand/trends-and-developments", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "penalty_framework", "source": "https://www.nortonrosefulbright.com/en/knowledge/publications/a9c07f1f/regulation-of-digital-assets-takes-effect-in-thailand", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W8", "name": "Merchant Acquiring & Risk", "confidence": "Assessed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/thailand/#w8-merchant-acquiring-risk", "standing_position": "Acquiring in Thailand is a PSA-designated payment service requiring a Designated Payment Service Licence; acquirers must route settlement through licensed banks, comply with PCI DSS, maintain fraud-prevention and cardholder-data protection, store and report transaction data to BOT, and apply AML/KYC with STR reporting to AMLO. Chargeback/dispute mechanics follow scheme rules incorporated through acquirer agreements.", "findings": [ { "finding": null, "instrument_type": "acquiring_regime", "source": "https://kpmg.com/th/en/home/insights/2023/03/legal-news-update-issue-23.html", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "acquiring_obligations", "source": "https://khonsulegal.com/tpost/6ign94al31-financial-licenses-in-thailand", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "dispute_framework", "source": "https://www.pxp.io/payments-glossary/card-scheme-rules", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W9", "name": "Product Innovation & Market Development", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/thailand/#w9-product-innovation-market-development", "standing_position": "Thailand is highly innovation-active: PromptPay underpins instant A2A and QR, with PromptBiz for businesses, an active BOT regulatory sandbox, programmable-payment/THB-stablecoin testing, National Digital ID (NDID) for KYC, and ongoing retail CBDC and mBridge cross-border research. Open-banking remains early-stage (dStatement since 2022; API standards not yet finalised).", "findings": [ { "finding": null, "instrument_type": "rail_infrastructure", "source": "https://www.lightspark.com/knowledge/instant-payments-thailand", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "open_banking", "source": "https://practiceguides.chambers.com/practice-guides/fintech-2026/thailand/trends-and-developments", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "cbdc_sandbox", "source": "https://silklegal.com/what-foreign-investors-need-to-know-licensing-and-market-entry-for-digital-asset-businesses-in-thailand/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "digital_id", "source": "https://paymentbrief.com/markets/thailand/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W10", "name": "Consumer Protection & APP Fraud", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/thailand/#w10-consumer-protection-app-fraud", "standing_position": "Emergency Decree on Technology Crimes (No.2) B.E. 2568, effective 13 Apr 2025, establishes negligence-based shared liability among banks, telcos, e-wallets and platforms with mandatory SMS screening, mule-account penalties and victim compensation.", "findings": [ { "finding": null, "instrument_type": "primary_decree", "source": "https://www.about-fraud.com/thailand-legislation-to-combat-technology-related-crimes/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "liability_regime", "source": "https://www.biocatch.com/blog/thailand-royal-decree-financial-fraud", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "victim_remedy", "source": "https://www.libothai.com/post/protecting-victims-of-online-scams-in-thailand-legal-rights-and-remedies-for-foreign-residents-par-1", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "consumer_critique", "source": "https://www.nationthailand.com/news/general/40060662", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W11", "name": "AML/CFT & Financial Crime", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/thailand/#w11-aml-cft-financial-crime", "standing_position": "sentinel.gi position carried: Thailand's AML/CFT regime is built on the Anti-Money Laundering Act B.E. 2542 (1999) and the CTPF Act B.E. 2559 (2016), with AMLO as FIU and supervisor. Thailand was grey-listed (2010/2011), exited in 2013/2015 and remains in APG enhanced follow-up; a February 2025 AMLA amendment package expanded predicate offences and reporting entities. Digital-asset operators are 'financial institutions' for AML purposes. Payments-context risks: mule accounts, QR-code laundering, cross-border scam-compound flows.", "findings": [ { "finding": null, "instrument_type": "sentinel.vasp_aml", "source": "https://www.globallegalinsights.com/practice-areas/blockchain-cryptocurrency-laws-and-regulations/thailand/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": "AMLA 1999 (amended) with AMLO as FIU/supervisor; Emergency Decree on Digital Asset Businesses 2018 (SEC-regulated VASPs); 2022 NRA underpins 2022-2027 AML/CFT National Strategy; no beneficial ownership registry; DNFBP (real estate, gold/jewellery, casino) supervision remains weak per FATF follow-up findings.", "instrument_type": "assessment", "source": "FIM (sentinel.gi) per-JID baseline profile — Thailand", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: absent-field-provenance", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-004)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: legal-gap", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-001)", "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "W12", "name": "Correspondent Banking, Settlement & Access", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/thailand/#w12-correspondent-banking-settlement-access", "standing_position": "BAHTNET (launched 24 May 1995) is BOT's RTGS system providing final, irrevocable settlement for high-value interbank transfers, accessible to institutions holding current accounts at BOT and to qualifying juristic persons under defined access criteria; it provides collateralised intraday liquidity and serves as the settlement backbone for PromptPay (via National ITMX). Cross-border PvP links (e.g. HKMA USD CHATS) support FX settlement and correspondent-banking relationships. BAHTNET has migrated to ISO 20022.", "findings": [ { "finding": null, "instrument_type": "rtgs_system", "source": "https://www.bot.or.th/en/our-roles/payment-systems/Payment-systems.html", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "fmi_assessment", "source": "https://documents1.worldbank.org/curated/en/769411571259925337/pdf/Thailand-Assessment-of-Observance-of-the-CPSS-IOSCO-Principals-for-Financial-Market-Infrastructures-BAHTNET-and-TSD.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "cross_border_settlement", "source": "https://www.hkma.gov.hk/eng/news-and-media/press-releases/2014/07/20140728-3/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "settlement_finality", "source": "https://www.imf.org/external/pubs/ft/scr/2009/cr09149.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W13", "name": "Commercial Intelligence & Fintech", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/thailand/#w13-commercial-intelligence-fintech", "standing_position": "Three virtual-bank licences awarded 19 Jun 2025 to SCB X (WeBank/KakaoBank), Krungthai (Gulf/AIS/PTT OR) and ACM Holding/Ascend Money (CP/Ant International); operations required within one year.", "findings": [ { "finding": null, "instrument_type": "commercial_event", "source": "https://www.nationthailand.com/business/banking-finance/40051473", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event", "source": "https://www.crowdfundinsider.com/2025/04/238662-thailand-picks-krungthai-scbx-and-ascend-money-for-digital-banking/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event", "source": "https://aimbangkok.com/crypto-license-thailand/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event", "source": "https://practiceguides.chambers.com/practice-guides/fintech-2026/thailand/trends-and-developments", "source_url": null, "source_tier": "3", "retrieved_at": null } ] } ] }