Thailand’s fintech industry has grown by a remarkable 82.47% over the past five years, driven by widespread adoption of digital financial services and continued momentum across the sector, according to a new research by the Fintech News Network.
The newly released Fintech Thailand Map 2025, which features active fintech companies and brands in the country, reveals that Thailand is now home to 177 companies, up significantly from 97 in 2020. This represents an annual growth of 12.8%, underscoring the country’s fast-evolving fintech landscape.
A broader and more mature fintech ecosystem
This year’s map shows that payments and transfers remain the leading vertical, making up 30% of all fintech operating in Thailand. Alternative lending follows with a 20.3% share, while blockchain and digital asset account for 12.4%, and wealthtech for 10.2%.
A number of sectors are also gaining traction, including insurtech (7.3%), business financial management (4.5%), personal finance (4.5%), capital markets and trading (4%), regtech (2.8%), financial infrastructure and application programming interfaces (APIs), and software and product development (1.7%).
These developments show that the Thai fintech ecosystem is becoming increasingly diverse and sophisticated. They mark a departure from the early dominance of payments and blockchain, and signals the sector’s progression into more complex and long-term service models.
One of the most significant signs of maturation is the emergence of regtech. This segment was virtually non-existent five years ago but now includes five companies offering compliance management and electronic know-your-customer (eKYC) solutions.
Foreign players enter Thailand
The past five years have also seen a noticeable influx of regional fintech players entering the Thai market.
Singapore-based buy now, pay later (BNPL) provider Atome launched in Thailand late 2021 after securing partnerships with about 15 leading brands, including Charles and Keith, Anello, Sephora, Osim and Agoda.
In 2024, Malaysian digital finance company BigPay introduced its e-wallet in Thailand, offering features like travel savings, seamless global payments, and real-time currency exchange.
That same year, Xendit, a fintech unicorn from Indonesia, expanded its business to Thailand. Xendit offers a comprehensive suite of financial services, including payment processing, international money transfers, and business operation solutions, serving over 6,000 clients across various sectors, from SMEs and e-commerce startups to large corporations.
In the blockchain and digital assets space, Binance started its full operations in January of last year, calling Thailand a key market for crypto expansion.
A booming digital economy
These companies are tapping into Thailand’s rapidly expanding digital economy. Thailand is the fourth most populous country in Southeast Asia, and boasts the second largest digital economy in the region, valued at US$46 billion in gross merchandise value (GMV) in 2024, according to Google’s 2024 e-Conomy report. That’s ahead of Singapore at US$29 billion, the Philippines at US$31 billion, and Vietnam at US$36 billion.
Digital financial services are a major contributor to this growth. In 2024, Thailand recorded US$141 billion in digital payments gross transaction value (GTV), US$14 billion in digital lending loan book balances, US$17 billion in digital wealth assets under management (AUM), and US$900 million in digital insurance, measured by annual premium equivalent (APE) and gross written premiums (GWP).
Each of these verticals experienced strong year-on-year (YoY) growth, ranging from 5% to 32%, reflecting both increased consumer adoption and expanding financial access.
Looking ahead, projections through 2030 suggest continued momentum, with growth of 77% for digital payments, 257% for digital lending, 547% for digital wealth, and 178% for digital insurance.
Increased adoption of digital financial services
This booming digital finance sector has been fueled by soaring adoption of digital payments and the introduction of PromptPay, the national real-time payments infrastructure. PromptPay enables instant account-to-account (A2A) transfers between individuals, businesses, and government agencies, and has become a cornerstone of the country’s digital payment ecosystem.
As of 2024, PromptPay was the leading payment method online, accounting for effectively all of account-to-account (A2A)’s 44% of 2024 e-commerce transaction value, according to the 2025 Global Payments Report by Worldpay. Driven by the success of Thai QR code payments, A2A payments also lead at point-of-sale (POS) with 41% of 2024 transaction value.
Digital wallets are gaining traction as well, contributing 30% of e-commerce and 11% of POS payments, with TrueMoney emerging as the leading domestic provider.
These developments are part of Thailand’s broader National e-Payment Master Plan, a government-led initiative to modernize the payment landscape. The plan has been highly successful in promoting digital payments and reducing the use of cash. In 2019, cash accounted for 68% of POS transaction value. By 2024, that figure had fallen to just 31%, marking a dramatic shift in consumer behavior within just five years.
Fintech Thailand Map 2025
The Fintech Thailand Map 2025 provides a comprehensive look at companies actively operating in the Thai fintech market. It includes both domestic startups and foreign firms that have established a local presence or operate under a direct business license in Thailand, and can be downloaded here.
Download Fintech Thailand Map 2025
While the Fintech News Network’s editorial team has worked diligently to ensure accuracy, readers are encouraged to reach out if a relevant company is missing or if any listings require updates.
Upcoming event: Fintech Frontiers 2025 Looking for Thai Fintech Founders
The Fintech News Network will host the Fintech Frontiers 50 Awards this August in Kuala Lumpur. The event is held in collaboration with Bank Negara Malaysia and the Securities Commission Malaysia as part of MyFintechWeek 2025, and aims to spotlight Southeast Asia’s most influential fintech leaders, recognizing the region’s top 15 founders, selected by a panel of judges from public nominations, as well as the top 35 emerging founders.
Nominations for the awards remain open until May 30th.
Other resources you might be interested in
Curious about other Asian Fintech Startup Maps and Report? Here’s a handy guide looking at the fintech startup maps in Asia by country.
and the fintech startups report in Asia by country.
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Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik
