On March 10, 2025, the Thai government made headlines with its approval of Digital Money Phase 3, offering 10,000 baht to citizens aged between 16 and 20 years. The announcement was made by Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, following the first meeting of the Digital Economy and Society Development Fund for the year, which he chaired.
Mr. Pichai stated, "This target group is suitable because they are students who can use the money for necessary education-related expenses." Approximately 2.7 million young people are expected to benefit from this initiative, which aims to provide financial support to help cover various educational costs.
Payments are projected to commence by the end of the second quarter or at the latest during the third quarter of 2025. This timeline aligns with the government’s goal of facilitating increased spending among youth, particularly as they prepare for educational expenses. Even after the budget has been allocated, the government plans to continually assess the eligibility for older age groups, ranging from 20 to 60 years, for possible future phases of the program.
One of the key features of this new initiative is the significant reduction of previous restrictions related to spending. Mr. Julapun Amornvivat, Deputy Minister of Finance, elaborated on these changes, stating, "The adjustments will allow easier access, including payment for tuition fees and more flexibility for necessary expenditures." The government has removed prior prohibitions on certain purchases and opened the door for the youth to spend on things like tuition, utilities, and even retail products, making the digital wallet experience much more user-friendly.
Participatory measures leading to this distribution aim to engage young users effectively. Eligible participants must be at least 16 years old as of September 16, 2025, have annual income not exceeding 840,000 baht, and maintain bank savings of no more than 500,000 baht as of March 31, 2025, without any current imprisonment or violations of prior government aid regulations.
The application process will be seamless, requiring individuals to verify their eligibility via the state-run application, ensuring the checks are straightforward and accessible. Users simply need to log onto the app, follow prompts for verification, and input their mobile phone number to receive OTP codes for secure confirmation.
Expected to boost local economies, the overall budget allocation for this digital initiative is poised at around 150 billion baht, reflecting the government's commitment to stimulate economic activity through increased purchasing power among youth. Officials believe this program not only supports education but also encourages digital practices among young citizens, who are reportedly more acquainted with technology and digital transactions.
The Thai government's strategic focus on the digitally savvy youth segment is indicative of its broader economic strategy. By channeling funds directly to the tech-savvy demographic, it aims to invigorate the wider economy through targeted stimulus efforts.
Overall, the launch of Digital Money Phase 3 symbolizes the government's proactive approach to economic recovery and modernization, hoping to engage and empower the younger generation financially. With major backing from financial ministries and clear frameworks to facilitate access to funds, the initiative is expected to see significant participation, particularly as young Thais prepare to manage their academic and living expenses.
Moving forward, as government officials plan future initiatives, there will be close scrutiny and continued adjustments to maximize efficacy and reach. Many view this program as not just temporary relief but as part of larger reform efforts aimed at integrating digital solutions within Thailand's economy.