The first 18,000 EDC terminals are to be installed at state offices by September
The first 18,000 electronic data capture (EDC) terminals to be installed at government offices across the country under the national e-payment scheme will be in place by September.
Under the agreement, 25% of the total 550,000 point-of-sale terminals should be installed within the next few months after a contract is signed with the installer. All 550,000 machines are forecast to be installed by March 2018, said permanent secretary for finance Somchai Sujjapongse.
Apart from the 18,000 EDC terminals to be installed at government offices in the first phase, the other 532,000 machines will be installed at retailers and private locations.
The EDC installation is intended to encourage more people to use plastic cards when paying for goods and services, even small-ticket items with prices as low as 20 baht, using PromptPay. The money transfer service is part of the national e-payment scheme, designed to make Thailand less reliant on cash.
The contract signing between the Finance Ministry and the winner of the EDC installation auction has been scheduled for the second week of March, Mr Somchai said without revealing names.
There are two consortiums bidding to install the EDC machines. One comprises Bangkok Bank and Kasikornbank and the other consists of five banks: BAY, Siam Commercial Bank, Krungthai Bank, Thanachart Bank and TMB Bank.
Both consortiums are reportedly offering the same merchant fee: 0.55% of transaction value.
Mr Somchai said the merchant fee under the government’s EDC pool will be cheaper than the current rates charged by financial institutions under each individual network, to draw more people to use the services.
The Finance Ministry will also launch measures to attract small operators to install EDC terminals and entice people to pay electronically by offering lucky draws with prizes worth a combined 7 million baht per month for 12 months, he said, adding that the first prize is valued at 1 million baht.
People who want to make electronic payments through PromptPay must swipe debit cards issued by financial institutions at EDC terminals, he said.
The government is aiming to become a cashless society after the national e-payment scheme’s roll-out. Mr Somchai said the scheme could save the country 75 billion baht a year.
In a related development, he said the Revenue Department will launch e-tax filing for personal income tax, part of the e-tax system under the larger national e-payment scheme, in March.
The service will be extended to juristic persons later this year.
The e-tax system, which will alert the Revenue Department to all purchases of goods and services, will be completed by late 2018.
Mr Somchai said the e-tax system will help close loopholes used for tax evasion and is expected to help raise tax revenue by 100 billion baht a year.
The system will also offer convenience for taxpayers in obtaining tax refunds in a shorter period, he said.