{ "docId": "019dd923-5ca1-7489-b63a-735f47a4f33f", "docSlug": "81492cf0a01adebf", "documentTitle": "Decoding Instant Payments Emerging Markets", "authorId": "PwC", "authorName": "PwC", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.334, "pageNumber": 26, "pageCount": 37, "prevPage": 25, "nextPage": 27, "slideType": "case_study", "function": "illustrate_case", "density": "overcrowded", "nDataPoints": 3, "notes": "The slide details the Thai government's involvement in PromptPay, covering master plans, financial institution collaboration, funding, service integration, regulatory frameworks, and public awareness.", "elementsJson": [ "big_number", "paragraph" ], "metadataConfidence": 0.95, "imagePath": null, "slideHref": "/slides/019dd923-5ca1-7489-b63a-735f47a4f33f/26", "deckHref": "/decks/019dd923-5ca1-7489-b63a-735f47a4f33f", "deckJsonHref": "/decks/019dd923-5ca1-7489-b63a-735f47a4f33f.json", "deckAnchorHref": "/decks/019dd923-5ca1-7489-b63a-735f47a4f33f#slide-26", "components": [ { "bbox": { "h": 0.35, "w": 0.25, "x": 0.04, "y": 0.138 }, "kind": "callout", "text": "As of September 2020, PromptPay reported 55.1 million registrants (out of a population of 69 million), with 20 million daily transactions.", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2b529ebf-f0d9-42cf-a3b7-c26b0e56eef2", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "callout", "text": "The government's support for PromptPay has been instrumental in driving its widespread adoption, fostering financial inclusion, and transforming Thailand into a more cashless society.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd951-dfa2-7185-b396-57039cf101db", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.75, "w": 0.33, "x": 0.63, "y": 0.14 }, "kind": "list", "text": "Government service integration: One of the government's most effective incentives was the receipt of government grants/social grants/tax returns. Citizens that chose PromptPay are prioritized over other payment methods (e.g., cheques/mail), which drove many people to sign-up for PromptPay. The Thai government has actively integrated PromptPay into various government services. This includes enabling PromptPay as a payment method for fees and charges related to government services such as vehicle registration, passport applications, healthcare services, and tax payments. By incorporating PromptPay into government transactions, the government has promoted its use and facilitated convenience for citizens.\nRegulatory framework: The government has established a regulatory framework to govern the operations and security of PromptPay. This framework ensures that compliance, consumer protection, data privacy, and security standards are met by all participating financial institutions and service providers. It helps build trust and confidence in the system among users.\nPublic awareness campaigns: The government has conducted public awareness campaigns to educate the general population about PromptPay, its benefits, and how to use it. These campaigns have included mass media advertisements, informational materials, and community outreach programs to promote understanding and adoption of the system.\nThe government's support for PromptPay has been instrumental in driving its widespread adoption, fostering financial inclusion, and transforming Thailand into a more cashless society. The collaborative efforts between the government, financial institutions, and other stakeholders have played a vital role in establishing and expanding the usage of PromptPay throughout the country.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "47b12310-0996-4f28-b7af-90c9c57e3569", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.5, "w": 0.3, "x": 0.31, "y": 0.4 }, "kind": "list", "text": "National e-Payment Master Plan: PromptPay is expected to be a key component of Thailand's National e-Payment Master Plan, which was launched by the government in 2016. The master plan aims to assist efficient and secure digital payment infrastructure to support the country's economic development and financial inclusion. PromptPay was introduced as a central initiative to support the widespread adoption of digital payments.\nCollaboration with financial institutions: The government has worked closely with financial institutions, including commercial banks, to enable the successful implementation of PromptPay. This collaboration has involved providing regulatory support, encouraging participation, and facilitating the integration of PromptPay into the banking system.\nFunding and investment: The government has allocated substantial funding to support the development and implementation of PromptPay. Financial resources have been dedicated to infrastructure enhancement, technological development, and promoting awareness and education about PromptPay among the general public.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4df15458-a356-4f46-9749-fce13652990f", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "metric", "text": "registrants: 55.1 million", "attrs": null, "subkind": "primary", "toolName": "Quantification", "toolSlug": "quantification", "confidence": null, "componentId": "019dd951-dfa2-7185-b396-595814eaba78", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.3, "x": 0.31, "y": 0.14 }, "kind": "paragraph", "text": "Government involvement: There was no specific mandate in Thailand for the obligatory use of PromptPay. The Bank of Thailand did drive the implementation of PromptPay through incentives, but the explicit use/adoption of PromptPay was driven primarily by market forces. Nevertheless, PromptPay has received significant government support in Thailand to promote its adoption and integration into various sectors. The Thai government has played an active role in driving the development and implementation of PromptPay through the following initiatives:", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9f8d01ca-2729-47cd-b7ad-2f7e90ab6b59", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.35, "x": 0.04, "y": 0.03 }, "kind": "title", "text": "Decoding Instant Payments: The Emerging Markets' Story", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4678a918-a9cd-47c8-9b61-42794c8cf9b0", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 37, "from": 25, "beatId": "83a46ce6-a530-4f11-b2c7-fdc9054cb188", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Impact & Next Steps", "beatSlug": "consultants-gambit-impact-next-steps", "evidence": "The document offers recommendations for adoption boosters and concludes with limitations and author bios.", "position": 3, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }