CASHLESS SOCIETY FROM CASH-BASED ECONOMY TO CASHLESS ECONOMY IN THAILAND

Abstract

The objectives of this research were to study the changes incurred during the progression from a cash-based economy to a cashless society in Thailand, the factors related to a cashless economy and a cashless society in Thailand, and the development of a conceptual framework for the pursuit of a cashless society and economy in Thailand. The sample group was the population of all regions in Thailand. A total population of 2,800 samples was found. Thailand is likely to develop from a cash-based economy to a cashless economy. This is due to the changing behavior of financial services that have occurred from 2015 - 2019 concerning the financial assistance or payment channels that require a cash intermediary. The use of financial services or payment channels that do not require a cash intermediary tends to increase, according to information collected by the Bank of Thailand. It was found that Thailand grew to use less cash and has increasingly used various other forms of payment. This has increased in line with the development of systems that support the use of services, and when determining the factors that indicate this conversion within the social economy, the use of cash in the social economy and the personal level of money usage finds relationships and factors that forecast the transition from a cash economy to a cashless society. Concerning the individual factors related to e-payment behavior, the research found that gender and age were related to such e-payment behavior. For regression analysis, the researcher found that 1) factors influencing decision making, and 2) technology acceptance, were major factors. The behavior of using e-payment was significant at a .05 level.