According to PayNXT360, Embedded Finance industry in Thailand is expected to grow by 42.9% on annual basis to reach US$1,959.7 million in 2024.

The embedded finance industry is expected to grow steadily over the forecast period, recording a CAGR of 30.5% during 2024-2029. The embedded finance revenues in the country will increase from US$1,959.7 million in 2024 to reach US$7,421.0 million by 2029.

Thailand’s embedded finance market is poised for significant growth, driven by rising smartphone penetration, a robust digital infrastructure, and supportive regulatory policies.
Embedded finance integrates financial services like payments, lending, or insurance directly into non-financial platforms. This seamless integration enhances user experience by offering convenient and personalized financial solutions within familiar ecosystems. Thailand, with its tech-savvy population and growing e-commerce sector, presents a fertile ground for embedded finance to flourish.

Major Innovation and Deals of Thailand Embedded Finance Market:
• In 2023, NEC Corporation has introduced three modern digital finance solutions that aim to enable the financial industry in Thailand to cope with fintech challenges. The offering comprises Wealth Management Solutions, a Sales Engagement Module, and a Universal Lending Platform. Collaborating with Avaloq, a subsidiary of NEC specializing in wealth management technology, and BlackRock, a fintech provider, NEC created a dashboard that enhances asset management efficiency. This dashboard includes risk level assessments, empowering customers to make well-informed portfolio decisions based on return estimates.
• HSBC announced a memorandum of understanding (MoU) with the Thai Fintech Association to help further engage the next generation of Thai tech unicorns. It also announced a new white paper on how corporate treasury can navigate the dynamic payments landscape.
• Mambu, the software as a service (SaaS) cloud banking platform, unveiled new research that reveals over a quarter (26 per cent) of Gen Z Muslims solely use Islamic banking, though 85 per cent of them are interested in banking with a financial institution that offers Shariah-compliant products, an increase from 2021.
• Digital public infrastructure PlatON also showcased its latest advancements in deposit tokenization technology to a global audience through its Web3 payment solutions, including TOPOS MINT, a blockchain-based professional tokenized deposit issuance system, TOPOS RemiNet, a DEX-based open remittance network, and TOPOS, an on-chain payment acquiring product.
• In Oct 2023, Ascend Money becomes Thailand’s first FinTech unicorn following $150m funding round. The fresh capital infusion will be directed towards expanding the user base of its e-wallet application, TrueMoney Wallet, and advancing digital financial services, encompassing digital lending, digital investments, and cross-border remittances across Southeast Asia. Ascend Money’s primary mission is to drive regional financial access and inclusion.

Key Players of Thailand Embedded Finance Market:
? Fintech Companies: Fintech startups like Grab and LINE are leading the charge in Thailand’s embedded finance space. Grab offers financial services like payments and microloans within its ride-hailing and food delivery app, while LINE Pay facilitates seamless transactions within the popular messaging platform.
? Traditional Banks: Banks in Thailand are recognizing the potential of embedded finance and are partnering with non-financial platforms to offer co-branded financial products and services.
? Technology Providers: Technology companies are playing a vital role in developing the infrastructure and APIs necessary for seamless embedded finance integration.
This report provides a detailed data-centric analysis of the embedded finance industry, covering lending, insurance, payment, wealth and asset based finance sectors market opportunities and risks across a range of different sectors. With over 75+ KPIs at the country level, this report provides a comprehensive understanding of embedded finance market dynamics, market size and forecast.

It breaks down market opportunities by type of business model, consumer segment, and distribution models. In addition, it also provides detailed information across a range of different segment in each sector of embedded finance. KPI revenue help in getting an in-depth understanding of end market dynamics.

PayNXT360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.