Large mall operator Siam Piwat has partnered with Visa Thailand to launch the country's first cashless retail pop-up store.
Consumer behaviour is moving towards a more cashless and convenient lifestyle. The cashier-free Visa Pop-Up store enables shoppers to purchase products and services using credit cards, debit cards, pre-paid cards or QR codes.
Usara Yongpiyakul, chief executive of Siam Piwat Retail Holding, said the collaboration between Siam Piwat and Visa Thailand sets the tone for future in-store shopping experiences.
"Siam Piwat joined Visa Thailand to introduce a new retail experience catering to consumers' changing lifestyles. This will be a benchmark for future retail," said Ms Usara.
She said the key concept of a cashless retail store is no cashiers. Secure transactions are made through a touchless service that is easy and convenient, said Ms Usara.
There are three locations for the pop-up stores: Siam Paragon, Siam Center and Siam Discovery.
Suripong Tantiyanon, Visa Thailand's country manager, said Visa was pleased to be working with Siam Piwat to deliver a cashless experience.
"The pandemic has changed how we live, work and shop. Consumers across the world and in Thailand are developing growing confidence in using digital payments instead of cash," he said.
The "Visa Consumer Payment Attitudes Study" found 81% of consumers in Thailand preferred shops that accept digital payment options instead of cash only. Nearly two in five consumers (39%) intend to go cashless when the pandemic is over.
The study was conducted by CLEAR on behalf of Visa in September 2021 in seven Southeast Asian countries: Cambodia, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
The total survey sample size was 7,500, including 1,000 consumers in Thailand aged 18-65, covering all education groups, with a minimum income of 15,000 baht.
Mr Suripong said Visa would continue to work with its partners across a broad spectrum of industries to provide a seamless, intuitive, intelligent and secure commerce experience for everyone.
