The client base of both Thai e-wallet TrueMoney as well as Japan's LINE Pay are expected to grow by over 200 percent between 2020 and 2025. TrueMoney, especially, is said to have seen a significant growth of users during the coronavirus pandemic, ranking as one of the most downloaded free Android apps in the country. Unlike LINE Pay - a mobile payment option within Japan's most popular messaging app and mainly functions within this ecosystem - the TrueMoney mobile wallet relies on global partnerships. First created in 2013 by fintech Ascend Money, TrueMoney entered several major partnerships in the following years with, for example, Apple and China's Ant Group. This makes it possible for users of this particular payment service to pay directly in either the Apple Store or on Alibaba.
Number of users of selected mobile wallets in Thailand in 2020, with forecasts from 2021 to 2025
(in millions)
The source does not provide any information regarding consumers using more than one app at the same time. It may, therefore, be that the total users of all apps combined is higher than the country's population
Supplementary notes
The source explicitly states that "we look (...) only for open wallets, ie those that have the ability to make payments on multiple sites, rather than in reference to an ability to transfer funds between different wallets. Thus we do not focus on transactions conducted via cards stored by a retailer purely for use on that retailer’s website or mobile app."
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Statista estimates. (October 21, 2021). Number of users of selected mobile wallets in Thailand in 2020, with forecasts from 2021 to 2025 (in millions) [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1271760/mobile-wallet-user-forecast-in-thailand/
Statista estimates. "Number of users of selected mobile wallets in Thailand in 2020, with forecasts from 2021 to 2025 (in millions)." Chart. October 21, 2021. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1271760/mobile-wallet-user-forecast-in-thailand/
Statista estimates. (2021). Number of users of selected mobile wallets in Thailand in 2020, with forecasts from 2021 to 2025 (in millions). Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1271760/mobile-wallet-user-forecast-in-thailand/
Statista estimates. "Number of Users of Selected Mobile Wallets in Thailand in 2020, with Forecasts from 2021 to 2025 (in Millions)." Statista, Statista Inc., 21 Oct 2021, https://www.statista.com/statistics/1271760/mobile-wallet-user-forecast-in-thailand/
Statista estimates, Number of users of selected mobile wallets in Thailand in 2020, with forecasts from 2021 to 2025 (in millions) Statista, https://www.statista.com/statistics/1271760/mobile-wallet-user-forecast-in-thailand/ (last visited November 22, 2024)
Number of users of selected mobile wallets in Thailand in 2020, with forecasts from 2021 to 2025 (in millions) [Graph], Statista estimates, October 21, 2021. [Online]. Available: https://www.statista.com/statistics/1271760/mobile-wallet-user-forecast-in-thailand/
