TrueMoney unveils new digital payment service

TrueMoney, Southeast Asia's leading fintech platform under Ascend Money, has launched what it describes as Thailand's first inclusive tap-to-pay digital financial service, marking a significant step forward in the country's contactless payments landscape.

The service introduces two payment models. The first is a closed-loop system called TrueMoney BlueTap, currently available at 7-Eleven stores and select merchant partners. The second is an open-loop system based on EMV contactless payment terminals, developed in collaboration with Alipay+ and leveraging Mastercard's Wallet Pay technology. TrueMoney says it is one of the first wallet platforms globally to support both models at scale.

Since its launch, BlueTap has already attracted more than 1.5 million users with over 5 million taps recorded. The company plans to expand the BlueTap network to more than 50,000 paypoints, including 7-Eleven stores nationwide and other retail partners, by September 2026.

The open-loop tap-to-pay feature allows users to activate contactless payments within seconds and pay using the TrueMoney app at EMV terminals, without needing a physical card. It will be available to eligible Android users from July 21, with a broader rollout to follow. Users can access more than 900,000 contactless acceptance points across Thailand and over 150 million points across more than 220 markets globally.

For commuters in Bangkok, the service will work on approximately 6,000 Bangkok Mass Transit Authority buses. TrueMoney is also working with Bangkok Expressway and Metro Plc, the operator of the MRT Blue and Purple Lines, to introduce tap payments at station gates.

Monsinee Nakapanant, co-president of Ascend Money, stated that the move is part of a strategy to make contactless payments more accessible for consumers, with technology, artificial intelligence and customer understanding identified as the key forces shaping the next era of payment technology. Commercial director Tanarat Thuvasujirake highlighted that reducing the number of steps needed to complete a transaction is central to the new offering.

TrueMoney currently serves more than 35 million registered users in Thailand. Adoption of BlueTap has been particularly strong among younger consumers and office workers.

For businesses and individuals operating in Thailand, staying across evolving fintech developments is increasingly relevant to everyday financial and commercial activity. At SLF Legal, we are here to support expats, investors and business owners in navigating the legal and regulatory landscape in Thailand.