Thailand sets $14bn digital wallet registration for August 1

BANGKOK -- Thailand's ruling party will push forward with its long-delayed digital wallet stimulus, opening registration for the 10,000 baht ($277) handout from Aug. 1, but has yet to set a rollout date for the scheme meant to improve the Thai economy's year-end prospects.

Thai citizens will be able to register for the payment on a smartphone app called Tangrat until Sept. 15. Recipients must be at least 16 years old by Sept. 15, have no criminal record, an annual salary below 840,000 baht ($23,280) in 2023 and less than 500,000 baht in bank deposits. The Finance Ministry estimated between 40 million and 50 million people will register for the subsidy, which it aims to distribute in the fourth quarter.