Thailand Rolls Out Crypto Payment System for Tourists
SUMMARY:
Thailand officially launched TouristDigiPay on August 18, 2025—a new system that enables foreign visitors to convert cryptocurrency into Thai baht and pay seamlessly using the country’s QR PromptPay network.
The initiative, overseen by the Bank of Thailand and the Securities and Exchange Commission (SEC), is part of a broader push to modernize tourism payments and attract new types of travelers. Tourists register with approved providers, complete identity verification, and can then use QR codes to make purchases almost anywhere—whether at street markets, restaurants, or high-end hotels—just like locals do.
Rebuilding Tourism with Digital Innovation
Tourism has long been vital to Thailand’s economy, contributing nearly 20% of GDP before the COVID-19 pandemic. In 2019, Thailand welcomed almost 40 million tourists, generating around $62 billion in spending. But the pandemic sharply reversed that trend: in 2020, arrivals dropped to 6.7 million, with revenues falling to under $12 billion.
The recovery has been gradual. By 2023, visitor numbers reached 28 million, with $47 billion in spending—still below pre-pandemic levels. A major gap remains in Chinese tourism, which accounted for over 10 million visitors in 2019. As of early 2025, arrivals from China are still 34% below pre-COVID levels.
In response, Thai officials are looking to diversify the tourist base—particularly by targeting digital-savvy travelerssuch as crypto holders, digital nomads, and remote workers. These groups typically spend more per trip and prefer modern, cashless payment options.
How TouristDigiPay Works
At the heart of the system is a dedicated Tourist Wallet, managed by the Bank of Thailand. Visitors start by registering with a licensed digital asset platform and completing KYC (Know Your Customer) checks, much like opening an online bank account.
Once verified, tourists can transfer crypto assets into the wallet. These assets are then automatically converted into Thai baht, and payments are made by scanning the standard PromptPay QR code accepted nationwide. Merchants receive baht directly—never handling or seeing any crypto.
From the vendor's perspective, the process is identical to a local cashless transaction, removing friction while avoiding currency exchange hassles, card fees, or delays for the traveler.
Built-in Controls and Regulatory Oversight
Spending caps have been set to keep usage within controlled limits. For example:
Large merchants (like hotels or malls): up to 500,000 baht per tourist per monthSmall vendors (such as local shops): up to 50,000 bahtCash withdrawals: not permittedHigh-risk businesses: excluded entirely
The program is operating as a regulatory sandbox, allowing the government to test its performance and compliance. Oversight is shared across multiple agencies, including the Anti-Money Laundering Office, the Ministry of Tourism, the Bank of Thailand, and the SEC.
Positioning Thailand as a Digital Payments Leader
TouristDigiPay is part of Thailand’s broader digital asset strategy, which blends openness to innovation with strict regulatory controls. The country already boasts high adoption of QR payments—used by over 70% of consumers, according to the Bank for International Settlements—and is actively piloting a central bank digital currency (CBDC)and cross-border settlement projects.
Analysts believe that even limited uptake of crypto payments by tourists could generate billions of baht in new transactions annually, further boosting Thailand’s position as a regional leader in fintech-enabled tourism.
With 35 million tourists projected to visit Thailand in 2025 and spending expected to approach $60 billion, the government sees digital tools like TouristDigiPay as key to capturing greater value—and redefining the travel experience for a new generation.
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