Thailand’s Famous Street Food Vendors Advances towards Digital Market

The street food of Bangkok has a worldwide popularity and immense potential for growth in the industry. The street food vendors are embracing the digital platform and accepting Quick Response (QR) Payments using smartphones. The vendor empowering the digital revolution is healthy news for foodie fans.
Thailand’s traditional street stalls offer almost everything to the common buyers ranging from the stir- fried noodles to home appliances, which are the major economy providers of the country. In the whims of expansion the country’s metropolitan government has evicted nearly 10,000 street vendors, from 38 famous streets of the city, over the decade citing the reasons of development by cleaning up the streets and building the shopping mall projects in nearby areas, Hence, shifting to the digital payment methods provided a rejuvenating push to the street food market. The Bank of Thailand authorised five banks of the country to accept digital transaction methods, of which, the banking sector giants like the Bangkok Bank and the Siam Commercial Bank boosted the process by implementing QR code electronic payment systems accordingly.
The Thailand street market also stands for vendors of vibrant marigolds, exotic roses, orchids as well as noodles, stewed duck and pork satay. They were cornered as the administration was gentrifying a community mall project near top tourist landmarks, like Pak Khong Talad and Yodpiman River Walk. However, as the vendors have showed immense growth through digital payment method, the government declined the gentrification plan. The Deputy Permanent Secretary of Ministry of Digital Economy and Society, Somsak Khaosuwan, said that Thailand is encouraging the global cashless society trend. The QR code payment system is the most reliable option as it expects a very less investment from vendors. It is quite simple and adaptable for them and even for government as it accounts for transparent transaction.
The internet savvy young street vendors are adapting the method rapidly. When the vendors and regular customers were asked about the option’s reliability, they said, it is quite a dependable option as we need not to worry about finding the change and parcel delivery. However, many of the older vendors still hesitates to use the application and the government is progressively working on a social education framework regarding the system.