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Players can expect to see average annual growth in spending on credit cards that will run to 8.0-9.0% per year over 2024-2026. The market will be boosted by greater spending on domestic and international tourism, continuing growth in e-commerce sales and consumers’ increasing familiarity with the process of making online payments. Nevertheless, the market will also come under pressure from only slow growth in domestic consumer spending power and the declining ability of borrowers to make their debt repayments on schedule

The Fourth Industrial Revolution is precipitating enormous changes in the world of business, and financial institutions will not escape these rising challenges. As they become increasingly driven by technology and innovation, payment systems worldwide including in Thailand, will become more and more dependent on electronic payments, and this will drive banks to shift their operations to a ‘platform business model’. Through this period, financial institutions that are major providers of payment services will find themselves in an ever more unstable position, with the foundations of their business being undermined by new players entering the market as suppliers of platform services, and so to preserve competitiveness, banks are being forced to transform their businesses and to shift as rapidly as possible from their older models of business organization to one in which they too are platform businesses.

The credit card business is likely to continue to grow in the years 2019-2021, with an expected increase in line with consumer behavior

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The credit card business is likely to continue to grow in the years 2019-2021, with an expected increase in line with consumer behavior

ขณะที่ทั่วโลกกำลังตื่นตัวกับการพัฒนาเทคโนโลยีที่ก้าวกระโดดอย่างรวดเร็วนั้น ระบบการชำระเงินก็ได้รับผลกระทบจากการเปลี่ยนแปลง