Thailand: popular e-wallet market share 2023

As of May 2023, True Money Wallet led the e-wallet market in Thailand with nearly 53 percent of the market share. This was followed by Rabbit Line Pay, with a share of around 25 percent.

True Money as the market leader

Since the COVID-19 outbreak, Thai people have become more accustomed to a cashless society. When purchasing products or services, e-wallets, mobile banking, or PromptPay are the usual methods of payment. In 2013, True Money was the first to establish an e-wallet service in the Thai market. With around 24 million users, True Money Wallet’s services include transferring money, paying utility bills, and purchasing items at online stores. Currently, True Money is covering purchases in six countries in the ASEAN region, including Burma, Laos, Cambodia, Vietnam, Indonesia, and the Philippines. Moreover, True Money Wallet is the only e-wallet payment method accepted by 7-Eleven stores in Thailand.

LINE Pay e-wallet

In August 2023, LINE MAN Wongnai and LINE (Thailand) acquired Rabbit LINE Pay, an online and offline payment system provider. Rabbit LINE Pay, which is now called LINE Pay, is another popular e-payment services in Thailand. It can be used to pay, transfer money, or top up mass transit networks such as the BTS SkyTrain, as well as purchase products and services from partner brands and pay utility bills. Given the rise in the transaction volume of e-wallets in Thailand, the Bank of Thailand predicted that by 2025, the use of E-Wallet money will have tripled.