How Thailand card payments market will hit $99b in 2030

GlobalData projects the market to reach about $68.1b in 2026.

The credit and charge card payment market in Thailand is forecasted to climb 2.7% in 2026, reaching about $68.1b, driven by a gradual increase in payment card usage, expanding payment infrastructure, and ongoing government initiatives.

According to GlobalData, credit and charge card payment value in Thailand registered an estimated compound annual growth rate (CAGR) of 8.6% over 2021 to 2025 to reach $66.3b in 2025.

“Though credit and charge card penetration remains relatively low at 0.4 cards per 100 people in 2025, they remain the dominant form of payment cards in Thailand,” Shivani Gupta, Lead Banking and Payments Analyst at GlobalData, said in the report.

“This is largely supported by bank incentives such as cashback, rewards, discounts, and instalment plans, alongside rising adoption amongst the growing middle class and younger working population,” Gupta added.

Thai consumers prefer credit and charge cards for payments, with frequency of payments per card standing at 38.6 times in 2025, much higher compared to just three times for debit cards.

“This is driven by banks offering flexible repayment options and value-added benefits such as cashback, reward points, discounts, and instalment facilities,” the GlobalData report said.

The country’s central bank also extended the policy requiring a minimum credit card instalment payment rate of 8% until the end of 2026.

“By maintaining a lower minimum payment rate, the central bank aims to support households in maintaining their financial stability and avoiding further indebtedness. Further, debtors who make at least the minimum payment are eligible for a 0.25% interest reduction on their outstanding balances,” the report said.

Looking ahead, the market is likely to sustain growth in the next five years, Gupta said, driven by the expanding digital payment infrastructure, incentives from banks and card issuers, supportive regulatory policies, and the shifting preferences of younger and more affluent consumers toward cashless transactions.

From 2026 through 2030, GlobalData also projectes the market to register a CAGR of 9.8%, reaching $99b.