ASEAN’s Digital Payment Revolution: A New Frontier for Regional Integration, Thailand

Selected Issues Papers, February 20, 2026

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Study purpose: Takes stock of recent developments on digital payments in Thailand and ASEAN broadly; explores drivers and potential benefits; analyzes factors underlying the frequency of digital payment usage; discusses relevant policy considerations.
Core insight: ASEAN countries have made significant progress in developing domestic and cross-border digital payments, aligned with initiatives to improve regional financial integration.
Preliminary evidence: Advancing regional payment connectivity by increasing local currency usage can strengthen financial resilience and reduce vulnerabilities to external shocks.

ASEAN progress: Significant development of domestic and cross-border digital payments across ASEAN.
Potential benefits:
- Strengthened financial resilience through increased local currency usage.
- Reduced vulnerabilities to external shocks via improved regional payment connectivity.
Evidence status: Described as preliminary in establishing benefits of regional payment connectivity.

Drivers: The study explores recent developments and underlying drivers of digital payments in Thailand and ASEAN (specific drivers are examined in the full paper).
Potential benefits: Increased local currency usage and regional payment connectivity aimed at strengthening financial resilience and reducing external vulnerabilities.

Focus: Analysis of factors underlying the frequency of digital payment usage (details and empirical results are contained in the full study).

Coverage: Discusses relevant policy considerations for advancing digital payments and regional integration (policy recommendations and specifics are presented in the full study).