We know that e-Payment, or electronic payment, has grown exponentially from the COVID-19 that came 2-3 years ago, where the use of e-Payment by Thais is considered to be in the top 3 in the world.
More than 70 million phone numbers of Thai people have registered for PromptPay, an increase of 22% from the same period last year.
PromptPay transfers an average of 38.7 million transactions per day. An increase of almost 60% with a total value of 120 billion baht, more than 90% of which were transactions with a transfer amount of about 690 baht per transaction.
However, due to the increasing familiarity with e-Payment, more Thai people are choosing to do financial transactions mainly through “Mobile Banking.” As a result, there are many digital financial transactions.
But it is inevitable that under the high growth of e-payment, problems resulting from financial transactions will continue to be seen. Because the problem is caused by both the bottleneck of the transaction system, new version upgrades, IT systems, system improvements or problems from transactions that are very high at certain times, such as the day of the lottery or the end of the month, they will have particularly high availability.
Yos Kimsawatde, Head of Payment System Office at the Thai Bankers’ Association, said that today’s digital financial transaction volume is growing rapidly, forcing each bank to reconsider its capacity.
which requires each bank to increase the capacity. What is the cause of the problem that the system crashes? This is due to the volume increasing every month. Therefore, to make digital banking flow smoothly, there must be an architecture. Some mobile banking may need to improve.
“How should system crashes be solved in general? It is a very delicate matter. Just a few mistakes will have an effect. They have to research it and make sure it’s checked. In the past, it may have been looked over at 95%, with only a few that could cause problems. Mainly because the volume in the last 2 years has increased a lot. When Prompt Pay was first released, a few million transactions per month were processed.”
However, by 2021, the total number of bank transactions was 900 million, but by mid-June this year, it had increased to more than 1000 transactions per second, a significant increase from the past.
Therefore, what needs to be done now is that, even if the roads are not enlarged, resources must be allocated well and do not make mistakes. This is a solution within each bank.