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Thailand’s Fintech growth among the fastest in ASEAN

Thailand is regarded as an ASEAN country with rapid Fintech development, with 140 Fintech companies registered, while about half of them are new companies.

National News Bureau of Thailand

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BANGKOK, (NNT) – The growth of Financial Technology in Thailand is said to be among the fastest in ASEAN. The World Bank meanwhile, has suggested the government reduce inequalities in access to capital to enable variations in Fintech development to emerge.

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The World Bank’s senior country economist for Thailand, Kiatipong Ariyapruchya has revealed the World Bank’s analysis of financial technology or Fintech, saying that Thailand is regarded as an ASEAN country with rapid Fintech development, with 140 Fintech companies registered, while about half of them are new companies.

About 43 percent of Fintech companies in Thailand are focused on the development of digital transaction services, however most of these companies are under the supervision of large banks which also develop their own digital transactions system or purchase one from another company, which discourages independent development by Fintech companies, and inhibits development of their full potential.

The government has however, created legal frameworks and establishd organizations to support the expansion and diversity of digital financial service providers with clear development guidelines. The Thai public has however limited capacity to access capital based on household income levels; this is despite the high volume of digital transaction usage compared to the rest of the world.

The government needs to address this unequal access to capital, which would help the country develop a modern, inclusive, and secure economic system.

The government should promote the competitiveness of Fintech connectivity, cooperation between traditional banks and Fintech companies, and create closer cooperation between regulating agencies to prevent redundancies, which might obstruct the country’s Fintech development.

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Vietnam Loship secures investment from Skype co-founder

This capital injection marks Loship as the first portfolio company of MetaPlanet in Vietnam and Southeast Asia.

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Hanoi (VNS/VNA) – Loship, Vietnam’s fast-growing one-hour-delivery e-commerce startup, has announced its latest investment from Skype co-founder Jaan Tallinn.

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Startups

Traveloka to launch financial services in Vietnam and Thailand

Traveloka, which says it has 40 million active monthly users, is developing “buy now, pay later” services for Vietnam and Thailand.

Boris Sullivan

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Indonesian company Traveloka and Southeast Asia’s largest online travel startup, plans to launch financial services in Vietnam and Thailand as it eyes a listing in the US, its president said.

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Thai Gaming Startups And Trends For 2021

Thailand is one of Southeast Asia’s most important markets for mobile games. There are about 531 Thai publishers on Google Play and about 1,684 Thai published games available for download on the store.

Pr News

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The name Thailand may not easily come to mind in any discourse on mobile or online gaming. However, with an estimated 27 million video gamers and projected revenue of $54m from online games in 2021, Thailand has positioned itself as a rising force in the gaming industry.

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