Latest news with #WisitWisitsora-at
Bangkok Post
05-07-2025
- Business
- Bangkok Post
Thailand Post offers virtual service
The Digital Economy and Society (DES) Ministry plans to support state-run logistics provider Thailand Post as it offers a neutral banking agent service to prospective virtual bank operators. Thailand Post's core strength is its nationwide network of carriers that can provide first-mile services, said DES permanent secretary Wisit Wisitsora-at. He said Thailand Post specialises in door-to-door delivery and has many years of experience, with a combined workforce of more than 25,000 carriers who know every metre of the country and are familiar with local communities. Although virtual bank operators will provide the majority of services via their virtual banking systems, Thailand Post can facilitate operations through the provision of contact points, serving virtual banks' operations through its offices and network, according to the logistics provider. The proposed service could focus on groups such as unbanked people or migrant labourers who earn their income daily as cash. Mail carriers can take their cash and deposit it in the virtual banking system, according to Thailand Post. Dhanant Subhadrabandhu, president of Thailand Post, said the state enterprise began discussing the business potential of a neutral banking agent service with a winner of a virtual bank licence. He said Thailand Post could provide several forms of operational support to all of the virtual bank lenders. "One targeted group of the service is migrant workers and Thais who do not receive a pay slip from their employers," said Mr Dhanant. Mail carriers could offer a variety of virtual banking services and related services to people at their residences, backed by Thailand Post's 1,600 post office branches countrywide, he said. Thailand Post currently operates a banking agent service for all of the country's banks, which allows people to deposit and withdraw their money at post office branches. Mr Dhanant said the state enterprise wants to turn last-mile delivery into a first-mile service, making Thailand Post the first choice for Thais for every kind of service. Moreover, Thailand Post recently adjusted its business strategy to focus more on specialised logistics services to cope with the risk of volume uncertainty associated with its delivery services. These specialised logistics include the delivery of medical supplies for both people and pets. Last month, the Finance Ministry approved three virtual banking licence applicants, allowing them to establish the country's first virtual banks. The new banks are expected to commence operations within a year from the date of licence approval. The winners were ACM Holding Co (TrueMoney), which is backed by the Charoen Pokphand Group; Krungthai Bank in collaboration with Advanced Info Service and PTT Oil and Retail Business; and the SCB X consortium of holding company Siam Commercial Bank, South Korea's largest digital bank KakaoBank, and WeBank, a global digital bank renowned for its advanced technology. The successful applicants were selected after a rigourous review by the Finance Ministry and the Bank of Thailand from five submissions received between March 20 and Sept 19, 2024.
Bangkok Post
30-06-2025
- Business
- Bangkok Post
Panel queries fund in Game Industry Act
A revolving fund committee under the Ministry of Finance, and also the Budget Bureau, have taken issue with a clause in the draft of the Game Industry Act that requires the establishment of a specific fund to promote the game industry. According to Wisit Wisitsora-at, permanent digital economy and society (DES) secretary, the committee said existing funds, such as the Digital Fund of the DES Ministry, could be used for the purpose of promoting the game industry. The ministry shared these opinions for the consideration of the Digital Economy Promotion Agency (depa) which drafted the law. Mr Wisit said the process of developing the law could be smoother if depa agreed to remove the clause regarding this specific fund. The law aims to solve various problems in the game industry and support the industry's development through the promotion fund. The fund has set a target to receive 500 million baht a year from the specific fund and another 500 million baht a year from the Revenue Department. The specific fund would be operated by the Game Promotion Institute, which would be established in the future by depa. According to the ministry, the law is aimed at covering all dimensions of the digital game business and services. Games, especially online games, have generated concern among public and related agencies over the possibility that their content may fall into the category of gambling activities. Therefore, games should be defined and supervised with clear regulations and a registration system that balances monitoring and promoting the game ecosystem. The games category is more expansive than physical activities carried out at internet cafes, motion pictures or online platforms on both the iOS and Android operating platforms. The law is to deal with the sophisticated development of the game sector which is currently worth 30-40 billion baht as well as to promote Thailand as a gaming hub in the Southeast Asian region. Depa president Nuttapon Nimmanphatcharin said the agency expects the value of the Thailand's game industry to reach 100 billion baht within the next 10 years. However, game exports are currently worth 800 million baht a year, indicating it is another industry that is experiencing a deficit, given that game imports exceed game exports.
