The Bank of Thailand plans to introduce new business licences for white-label automated teller machines (ATMs) next year.
The licences are available to both banks and non-bank operators, with the goal of expanding financial inclusion nationwide.
According to the central bank’s Payment Directional Paper under the Financial Landscape 2025, the regulator is seeking approval from the Finance Ministry to issue these licences.
The central bank expects to submit the proposal to the ministry in early 2026, with implementation anticipated by late next year, said Daranee Saeju, assistant governor for the payment systems policy and financial consumer protection group.
Applications for the new licences are open to a broad range of operators, including banks, non-banks, fintech companies and ATM vendors.
The initiative is intended to enhance financial inclusion, particularly in remote areas, by providing broader access to affordable financial services.
“For basic financial services, fees charged for transactions on white-label ATMs must not exceed current rates. However, higher fees may be permitted for innovative financial services where appropriate, based on cost structures,” said Ms Daranee.
She said while bank branches and ATMs have been steadily declining in line with growing digital banking adoption, certain consumer segments still rely on traditional services. However, the central bank expects cash usage to continue to recede, said Ms Daranee.
Central bank data indicates cash transactions are projected to drop to 10-20% of total banking transactions in 3-5 years, down from 31% at present.
PromptPay, the national digital payment platform, has propelled Thailand’s shift towards a cashless economy. Average digital payment transactions per user rose to 651 in 2024, up from 538 in 2023 and 425 in 2022.
Ms Daranee said the central bank also wants to encourage small and medium-sized enterprises (SMEs) to adopt digital payments through the PromptBiz platform.
However, she said the regulator is cautious about aggressively pushing digital payment adoption in certain groups, such as seniors, to protect them from financial fraud.
Chaiyarit Anuchitworawong, senior executive vice-president at Bangkok Bank (BBL), said the bank is considering the new ATM licensing scheme and may participate in installations where it does not have a presence.
BBL, the country’s largest lender by total assets, has continued to scale down its brick-and-mortar branches and ATMs in the post-pandemic period.
Over the past three years, the bank has closed around 300 branches nationwide, averaging about 100 closures per year, as digital transactions continue to increase.