Is Asia Ready to Go Cashless?
Transcript of Is Asia Ready to Go Cashless?
Topp Jirayut Srupsrisopa
Is Asia Ready to Go Cashless?
Topp Jirayut Srupsrisopa
• Investment/Central Banker & Financial Consultant turnedGroup CEO and
• Co-Founder of Bitkub Capital Group Holdings Co., Ltd(BCGH)
• Previously co-founded coins.co.th• Thailand’s Leading Bitcoin and Open Blockchain Expert• Board of Director at Thai Fintech Association• Mphil in Economics at Oxford University, UK
Thailand has more
mobile phones
connected to the
Internet than there
are Internet users.
Mobile adoption in
Thailand has reached a
point the average Thai
person has 1.4 mobile
phones or accounts,
representing 140 percent
adoption.
Thailand leads mobile
banking penetration
That is well ahead of the
global rate of 41% and
higher than China, at 61%
Internet banking and
mobile banking has been
increasing rapidly since
2011
2016 2017 2018 2019
• Cash withdrawal
from ATMs has
been declining!
40 million users
$50 million
173.6 billion
THB
8.4 million users
12 million users
15 million users
BUT A rise of non-bank players!
Mobile wallets enable
the 87% of people who
don’t have credit cards
to pay by means other
than cash
Truemoney:
Remittance
Service
Loyalty
points
Vending Machines
are also going cashless!
Promptpay!
010203040
1/1/19 1/1/171/1/15
Pr…
Standardised
QR code!
7/11 accepting deposit and withdrawals
Why is Fintech Revolution happening now?
Social Banking
is coming!
Social Banking
is coming!
A new Banking Model of the future!
New Generation Banking
What should we do today?
“The Electric light did not come from the continuous improvements of candles”
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