www.belaws.com
Open in
urlscan Pro
2606:4700:20::681a:c54
Public Scan
URL:
https://www.belaws.com/thailand/e-payment-licences/
Submission: On February 26 via manual from IN — Scanned from DE
Submission: On February 26 via manual from IN — Scanned from DE
Form analysis 1 forms found in the DOM
<form class="stretch mx-2 flex flex-row gap-3 last:mb-2 md:mx-4 md:last:mb-6 lg:mx-auto lg:max-w-3xl">
<div class="relative flex h-full flex-1 md:flex-col">
<div class="flex ml-1 md:w-full md:m-auto md:mb-2 gap-0 md:gap-2 justify-center"></div>
</div>
</form>Text Content
* thailand
*
*
*
*
*
* *
*
*
*
*
* legal
* Legal
* All Legal services
* Urgent. Same day advice
* Immediate legal consultation
* Document Review
* Our expertise
* Employment Law
* Merger & Acquisitions
* Restructuring & Insolvency
* Banking & Finance
* Real Estate
* Startups Services
* Blockchain Expertise
* Energy, Mining & Infrastructure
* Intellectual Property
* Tax Expertise
* Telecommunication, Media & Technology
* Commercial Transactions
* Family Law
* Others Expertises
* * Please note that this #Ebook does not constitute legal advice and should
only be used for informative purposes only.
* incorporation
* Incorporation
* All Incorporation services
* Business feasibility check
* Market research
* Entry strategy
* Companies type
* BOI Company
* Limited company
* Branch Office
* Representative Office
* U.S Treaty of Amity company
* Startups Services
* Business Licenses
* Foreign Business License
* E-commerce License
* Factory License
* Important License
* Restaurant License
* See all Licences
* Accounting & secretary
* accounting & secretary
* All Accounting & Secretary services
* Urgent. Same day advice
* Immediate consultation
* Document review
* corporate
* Draft minutes
* Changing directors
* Share transfer
* Registered address change
* Capital increase
* Meetings AGM
* Meetings (EGM)
* Closing a company
* Legalisation
* Notarisation and legalisation
* Translation document
* accounting
* Bookkeeping & tax filings
* Annual audit
* Payroll
* Payroll outsourcing
* Tax
* VAT Registration
* Corporate Income Tax
* Personal income tax
* Corporate
* accounting & secretary
* All Accounting & Secretary services
* Urgent. Same day advice
* Immediate consultation
* Document review
* corporate
* Draft minutes
* Changing directors
* Share transfer
* Registered address change
* Capital increase
* Meetings (AGM)
* Meetings (EGM)
* Close a company
* Translation document
* Notarisation & Translations
* Notarisation & Legalisation
* Translation documents
* accounting
* Bookkeeping & tax filings
* Annual audit
* Payroll
* Payroll outsourcing
* Tax
* VAT Registration
* Corporate Income Tax
* Personal Income Tax
* visas
* visas
* All Visas services
* Urgent. Same day advice
* Document review
* Immediate Visa consultation
* live in thailand
* Thailand LTR Visa
* Thailand Elite Visa
* Retirement Visa
* Marriage visa
* Change your visa type
* See all visa options
* work in thailand
* PEO services
* Non immigrant B Visa
* Work Permit
* BOI Visa & Work Permit
* Change your visa type
*
* BLOG
* blog
* All Blog posts
* resources
* Facebook Thai Visa Belaws
* Facebook Belaws
* ebook
* Ebook on Condo purchase
* Ebook Employment Law
* signup
* login
* * Français
* English
* Menu Menu
* signup
* login
*
* LEGAL
* INCORPORATION
* ACCOUNTING & SECRETARY
* VISAS
* Blog
* IMMEDIATE CONSULTATION
*
* English
* Français
Belaws Home ›› Thailand ›› Blog ›› A Everything You Need to Know About E-Payment
Licences in Thailand
legal
EVERYTHING YOU NEED TO KNOW ABOUT E-PAYMENT LICENCES IN THAILAND
29/03/2023
E-payment services have become increasingly popular in Thailand, and any company
that wishes to offer such services must obtain an e-payment licence. The
Minister of Finance issued the licence based on the Bank of Thailand’s
recommendation, ensuring that only trustworthy and competent service providers
can receive e-payment licences.
This blog post will discuss the requirements for obtaining an e-payment licence
and the process involved.
Key points
* An e-payment licence is required for offering electronic money services,
acquiring services, payment facilitating services, electronic money transfer
services, and services for receiving payments on behalf of sellers, service
providers, or creditors.
* The applicant must be a limited company, a public limited company or
financial institution, a specialized financial institution or a state
enterprise.
* At least one company director must be a Thai national residing in Thailand.
* The paid-up capital requirements vary depending on the e-payment service
offered.
* The application process involves an initial consultation, pre-approval, and
full submission of the required documents.
WHAT IS AN E-PAYMENT LICENCE?
In Thailand, certain services have been classified as e-payment services, and
anyone who offers such services must obtain an e-payment licence.
An e-payment licence allows the company to operate and offer these services to
the public legally. The Minister of Finance issues the licence based on the Bank
of Thailand’s recommendation. It is a regulatory measure to ensure that only
trustworthy and competent service providers can offer payment services in the
country.
DOES MY COMPANY NEED AN E-PAYMENT LICENCE?
An E-Payment License is a licence that must be obtained by service providers
who offer services such as:
* electronic money services,
* acquiring services,
* payment facilitating services,
* electronic money transfer services, and
* services for receiving payments on behalf of sellers, service providers, or
creditors.
The above is known as undersigned payment services (UPS) under Thailand’s
Payment Systems Act (PSA).
Those offering UPS must obtain an e-payment licence from the Minister of Finance
based on the Bank of Thailand’s (BOT) recommendation before beginning their
operations.
Finally, if most of a provider’s shareholders are foreigners, a Foreign Business
License (FBL) must be obtained from the Department of Business Development
(DBD).
WHAT ARE THE E-PAYMENT LICENCE REQUIREMENTS?
For a business to be eligible to apply for an E-Payment Licence they must be
able to satisfy the minimum requirements specified below.
1. The applicant must be a limited company, a public limited company or
financial institution, a specialized financial institution or a state
enterprise.
2. Company directors must meet the requirements of the BOT notification issued
under the PSA and must not have prohibited characteristics, for example,
* being a bankrupt person
* being an incompetent person
* having been sentenced for imprisonment by a final court judgment for any
fraud, cheating the creditor, embezzlement
* having been sentenced by a judgment or order of the court on the ground of
committing an offence relating to money laundering under anti-money
laundering law or involvement in terrorism
* having been discharged from being a director or an executive of a public
limited company due to lacking of appropriateness in respect of
trustworthiness in managing business
3. At least one company director must be a Thai national residing in Thailand.
4. The paid-up capital requirements are as follows:
Debit Card, Credit Card or ATM Card Issuing
(an issuer of debit, credit or ATM cards)
Not less than THB100 million E-Money
(an issuer of pre-paid stored-value cards, or e-wallets, used for making
payments of goods, services or any other charges)
Not less than THB100 million Acquiring
(accepts card payments by sending/receiving payment transactions to/from payment
card networks)
Not less than THB50 million Payment Facilitating (PF)
(accepts card payments by sending/receiving payment transactions to/from
acquisition business providers or other payment facilitation providers)
Not less than THB10 million Accepting Payment on behalf
(accepts non-card payment instruments, such as e-money and bank account)
Not less than THB10 million Fund Transfer
(accepts money from a service user, and subsequently transfers it to a receiver)
Not less than THB10 million
Furthermore, any business that intends to offer more than one type of e-payment
services are required to have paid-up capital of no less than the highest amount
of capital required for the services for which they apply.
HOW DO I APPLY FOR AN E-PAYMENT LICENCE?
The application process for an e-payment licence is as follows:
Step 1 – initial consultation: The process involves engaging in a conversation
with the Bank of Thailand (BOT) to elaborate on the business model and
information system, utilizing information that has been prepared per the
Guidelines on Meeting as provided by the BOT.
Step 2 – pre-approval: Prepare and submit the required documents for E-Payment
Licence Application.
Step 3 – full submission: Once the Bank of Thailand (BOT) confirms that all the
required documents are in order, the final documents will be submitted to the
BOT. Subsequently, the BOT will forward the final application to the Ministry of
Finance for their consideration in issuing the E-Payment Licence.
HOW CAN BELAWS HELP?
If you have a question about e-payment licences in Thailand, please speak
directly with one of our experts.
Talk to an expert
If you want to learn more about how our experts can help with your accounting
and secretary needs, please click here. For more details about our incorporation
services, please click here.
This article is for information purposes only and does not constitute legal
advice.
SHARE THIS POST
* Share on Facebook
* Share on Twitter
* Share on WhatsApp
* Share on LinkedIn
* Share by Mail
Book now
Our consultations last for a period of up to 1 hour and are conducted by expert
Lawyers who are fluent in English, French and Thai.
Consultations can be hosted via WhatsApp or Video Conferencing software for your
convenience. A consultation with one of our legal experts is undoubtedly the
best way to get all the information you need and answer any questions you may
have about your new business or project.
USD 150
Up to 1 hour
Online payment (Paypal or Credit card)
Legal consultation can be conducted in English, French or Thai
Legal consultations are handled by experienced lawyers from the relevant fields
of practice
FREQUENTLY ASKED QUESTIONS
What is the Payment Systems Act in Thailand?
The Payment Systems Act (PSA) is a legal framework in Thailand that regulates
e-payment services. Under this Act, certain services are classified as
undersigned payment services (UPS), and businesses offering these services must
obtain an e-payment licence from the Minister of Finance based on the Bank of
Thailand’s recommendation.
What are the different types of e-payment services that require a licence in
Thailand?
An e-payment licence is required for businesses offering the following services
in Thailand:
1. Electronic money services
2. Acquiring services
3. Payment facilitating services
4. Electronic money transfer services
5. Services for receiving payments on behalf of sellers, service providers, or
creditors
These services fall under the category of undersigned payment services (UPS)
as per Thailand’s Payment Systems Act (PSA).
What are the E-payment licence requirements?
To apply for an E-Payment Licence in Thailand, businesses must meet the
following requirements:
1. Be a limited company, public limited company, financial institution,
specialized financial institution, or state enterprise.
2. Directors must meet Bank of Thailand (BOT) requirements under the Payment
Systems Act (PSA) and not have prohibited characteristics.
3. At least one director must be a Thai national residing in Thailand.
4. Meet paid-up capital requirements depending on the e-payment service
offered:
* Debit/Credit/ATM Card Issuing: THB100 million
* E-Money: THB100 million
* Acquiring: THB50 million
* Payment Facilitating (PF): THB10 million
* Accepting Payment on Behalf: THB10 million
* Fund Transfer: THB10 million
Businesses offering multiple services must have paid-up capital of no less than
the highest amount required for the applied services.
RELATED ARTICLES
WHAT ARE THE TAXES ON CRYPTOCURRENCY IN THAILAND AND DO I NEED TO PAY TAX?
07/10/2021
Thailand is currently experiencing a Blockchain boom, with exchanges and
Fraction all being granted a Digital Assets Exchange License from Thailand’s
Ministry of Finance.
2021-10-07/by bertrand_admin_belaws
2022 CRYPTOCURRENCY TAXATION GUIDELINES IN THAILAND
31/03/2022
Thailand's Revenue Department has published the official guidelines for personal
income tax on cryptocurrency and digital assets.
2022-03-31/by jonathan
ACCOUNTING FOR A BOI COMPANY – 5 THINGS YOU SHOULD KNOW
11/05/2022
The most popular choice for business structure in Thailand is a Limited Company,
but Representative and Branch Offices provide an interesting alternative.
2022-05-12/by jonathan
SUBSCRIBE TODAY
SUBSCRIBE TODAY
To our newsletter for all the latest legal news
in South East Asia, Belaws updates and
special promotions on our services.
To our newsletter today for all the latest legal news in South East Asia,
Belaws updates and special promotions on our services.
Sorry. This form is no longer accepting new submissions.
+66 (0) 63 695 5945
We are open:
Monday – Friday
9 am – 6 pm (UTC+7)
Email us
SERVICES
Legal
Incorporation
Accounting & Secretary
Visas
Immediate ConsultationNew
COMPANY
About
Careers
Press & Media
Terms of Services
Privacy Policy
Sitemap
Resources
Belaws Thailand Blog
Facebook Thai Visa Belaws
Ebook on Condo purchase
Ebook Employment Law
Our Offices
Thailand
Singapore
Hong Kong
Cambodia
Vietnam
Belaws 2017 - 2024.
Belaws provides information and software only. Belaws is not a "lawyer referral
service" and does not provide legal service or participate in any legal
representation.
Belaws is not a law firm or a substitute for an attorney or a law firm. The use
of Belaws is subject to our Terms of Use.
Can I change tourist visa to business visa in Thailand? Image by macrovector on
Freepik Navigating Loans and Mortgages as a Foreigner in Thailand
Scroll to top
Notifications
Talk to us