Tagged: cashless economy

Open Banking Regulatory Framework in Thailand has Not Yet Been Fully Launched, but Digital Tech Adoption Remains Steady

March 7, 2021 @ 6:10 pm By Omar Faridi |

There are no extensive regulations yet on Open Banking in Thailand, however, the government’s digital transformation strategy (and the Thailand 4.0 strategy) along with the introduction of the Personal Data Protection Act (PDPA) in 2020 indicate that the country may soon offer an Open Banking… Read More

Read more in: Fintech, Asia, Politics, Legal & Regulation | Tagged bank of thailand, bot, cashless, cashless economy, consumer data, data-sharing, financial data, open banking, southeast asia, thailand

Digital Payments in Saudi Arabia Surged 75% YoY as Consumers Began Shopping Online More Frequently due to COVID

January 9, 2021 @ 5:41 pm By Omar Faridi |

Digital payments in Saudi Arabia surged by 75% last year, as consumers increasingly began shopping online following the COVID-19 outbreak. Meanwhile, cash withdrawals from ATMs and other payment points declined 30% during the same time period. Point of sale (PoS) refers to a location where… Read More

Read more in: Asia, Fintech, General News | Tagged atm withdrawals, Cash Payments, Cash Transactions, cashless economy, consumer behavior, coronavirus, digital commerce, Digital Economy, digital payments, digital transformation, e-commerce, mena, mena region, middle east, online payments, virtual payments