Thai consumers no longer need to open their apps to scan QR codes every time they pay. With the TrueMoney app, users can now simply "tap to pay" easily without linking a credit card.
Recently, TrueMoney, a leading Thai financial service and e-wallet provider, unveiled its PaymentTech strategy by launching a new service. Tap to Pay with TrueMoney, or TrueMoney Tap to Pay,transforms Thailand's payment system from QR code scanning to a tap-to-pay era, allowing users to tap their phones to pay instantly without the need for a credit card. This marks Thailand's first widespread access to contactless payment technology through a digital wallet.
Monsinee Nakpanant, Co-CEO of Ascend Money, stated that Thailand is among the world's most accepting countries of digital payments, and TrueMoney has pioneered mobile payments for over a decade. As the world shifts from card usage to Tap to Pay mobile wallets, TrueMoney aims to provide Thai users with the same experience as leading countries without restricting access based on credit card ownership.
Meanwhile, Thanarat Thuwasujirek, Business Director of TrueMoney Co., Ltd., noted that consumers currently face multiple steps to complete payments, including unlocking their phones, opening apps, and scanning QR codes. The Tap to Pay service simplifies these steps, enabling payments to be completed in seconds and catering to consumers who center their lives around smartphones.
TrueMoney's goal is to make tap-to-pay technology, previously exclusive to credit cardholders, accessible to the majority of Thais. Previously, mobile tap payments required linking credit or debit cards, excluding many users, especially younger people and those without credit cards.
Moreover, this is considereda world firstwhere users can tap to pay on both Closed Loop and Open Loop systems through a single digital wallet. This innovation results from collaboration with Alipay+, a digital wallet aggregation platform by Ant International, and Mastercard, a global payment technology network, allowing simultaneous tap payments in two formats:
Thanarat revealed that TrueMoney Tap to Pay is the fastest-growing product in TrueMoney’s history, surpassing one million users quickly. Since BlueTap's trial launch in early July, more than 1.5 million users have made over 5 million transactions, averaging about 200 baht per transaction. Approximately 70% of users are iPhone owners, and 30% use Android, reflecting strong early consumer adoption.
Data from partner merchants show a more than 50% increase in TrueMoney user numbers after installing BlueTap, with average spending per user rising about 14%. TrueMoney plans to expand BlueTap acceptance points to over 50,000 nationwide by September and extend contactless tap payments to more than 900,000 points of sale in Thailand, as well as over 150 million points in 220 countries and tourist zones worldwide.
Thanarat added that whereas customers previously used TrueMoney to scan QR codes via partner networks like Alipay+ in countries such as China and Japan, adding tap payment functionality via the Mastercard network will significantly broaden international acceptance points.
Conversely, this technology also supports foreigners, since BlueTap terminals use technology developed with Alipay+. This means that in the future, Chinese tourists using the Alipay app will be able to tap their smartphones to pay at BlueTap terminals in Thailand.
Next, TrueMoney plans to expand usage to public transportation. Currently, tap payments are accepted on BMTA buses, and development is underway with BEM to enable MRT passengers to tap their phones at station gates without buying tickets or cards, expected to launch in Q4 this year.
Monsinee said that the future of payments goes beyond convenience to financial services that understand users, connect with daily life, and are driven by AI and data to deliver personalized financial experiences.
For TrueMoney, launching TrueMoney Tap to Pay is more than a new feature; it marks a foundational step toward a new era of Thai PaymentTech aimed at upgrading the country’s payment infrastructure.
The long-term goal is to integrate spending, finance, and benefits into a single ecosystem centered on TrueMoney, encompassing payments, travel, rewards, savings, investments, and AI-driven intelligent financial services—enabling comprehensive daily money management within one app.
Additionally, TrueMoney aims to build a globally connected payment network, expanding ecosystems through merchants, partners, and cross-border payments, so users can use TrueMoney both domestically and internationally, while continuing to develop international support for TrueMoney Tap to Pay.
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