TrueMoney, Southeast Asia's leading fintech platform under Ascend Money, has rolled out Thailand's first inclusive "tap-to-pay" digital financial service.
"The move is part of a strategy designed to make contactless payments more accessible for consumers," said Monsinee Nakapanant, co-president of Ascend Money.
Technology, artificial intelligence and deep customer understanding will be the key forces shaping the next era of payment technology, she said.
Digital payments have become deeply embedded into everyday life across Southeast Asia, said Ms Monsinee.
TrueMoney serves more than 35 million registered users in Thailand and continues to expand its presence across Southeast Asia.
Tanarat Thuvasujirake, commercial director of TrueMoney, said a major obstacle for digital payments is going through multiple steps before completing a transaction.
Consumers are looking for simpler and faster experiences, he said.
TrueMoney introduced two tap-to-pay models: closed-loop payments through the TrueMoney BlueTap system, and open-loop payments through the Europay, Mastercard and Visa system known as EMV contactless payment terminals.
TrueMoney said its system is one of the first wallet platforms globally to support both closed-loop and open-loop tap-to-pay experiences at scale.
The BlueTap system is offered initially at 7-Eleven stores and select merchant partners, with plans to expand to more than 50,000 paypoints, including 7-Eleven stores nationwide and other retail partners by September 2026.
Since its launch, BlueTap has attracted more than 1.5 million users, with over 5 million taps to date. Adoption has been particularly strong among younger consumers and office workers, according to the company.
TrueMoney's open-loop tap-to-pay was developed in collaboration with Alipay+ and leveraging Mastercard's Wallet Pay technology.
The solution allows users to activate contactless wallet payments within seconds and tap to pay using the TrueMoney app at EMV contactless payment terminals without applying for or carrying a physical card.
TrueMoney users can tap and pay at more than 900,000 contactless acceptance points across Thailand and over 150 million contactless points across over 220 destination markets globally.
The service is available to eligible Android users from July 21, with a broader rollout to follow.
Commuters can use TrueMoney tap-to-pay on roughly 6,000 Bangkok Mass Transit Authority buses across Bangkok, tapping their phones on EMV contactless-enabled terminals carried by bus conductors.
The company is also working with Bangkok Expressway and Metro Plc, the operator of the MRT Blue and Purple Lines, to introduce tap payments at gates using the same infrastructure, with an expected launch in the fourth quarter of this year.
