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Finance Ministry to push for new FinTech: finance minister

Finance Ministry to push for new FinTech: finance minister

FRIDAY, July 19, 2019
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Finance Minister Uttama Savanayana says his ministry will promote the use of new cashless financial technologies or FinTech to create transparency in the government’s finances.

Posting on his Facebook wall, Uttama said Finance Ministry is ready to take up the challenge of supervising and promoting the use of FinTech to promote the new economy and to create transparency in spending by government agencies.
Uttama said the use of FinTech would benefit the country and noted that over the past two years, Thais had increasingly started using digital money to replace the use of cash. 
He said the Finance Ministry of the first Prayut government has implemented a strategy to develop the infrastructure for a cashless society by launching the national electronic payment. 
He added that the strategy helped speed up the pace of cashless society development, helping all agencies concerned to save both time and budget and that t e-payment could help prevent corruption because it allowed for the money to be traced back to the source.