Illustrative photo (Source: Reuters)

Bangkok (VNA/NNT) – The Ministry of Finance of Thailand has affirmed that a National E-Payment system will be up and running by January 1 of 2017.

Minister of Finance Apisak Tantiworawong has stated that the setting up of a national electronic payment system, designed to reduce the need for cash transactions, has made considerable progress.

The system is now adding an “Any ID” capability that will allow citizens to use either their identification numbers or phone numbers to perform financial transactions without the need for a bank account. The system is to open for registration this July 15 and will begin limited operation in the fourth quarter.

Other crucial steps taking place include the installation of over 100,000 electronic payment machines at government stores by this September, the Revenue Department allowing for tax payments to be done completely digitally by this October and for payments to the state to be made electronic by the end of this year.-VNA