The scheme is designed to spark economic growth in Thailand's sluggish economy post-COVID-19 by increasing the country's GDP, growth and household purchasing power through promoting consumption at the local level amongst lower level income earners.

[2] Phrase 1 of the scheme was launched on 25 September 2024, with the initial 14.2 million recipients being welfare card holders and the disabled.

[8] However, an obstacle to this is that a large portion of the eligible population in urban centres like Bangkok and Chiang Mai are registered in other provinces.

The bill was met with criticism by the Bank of Thailand, economists and the opposition Move Forward party.

This change was announced on 10 April 2024, where Prime Minister Srettha Thavisin said the scheme would be funded solely by the 2024-2025 fiscal budget.

Thailand has the highest public debt to gross domestic ratio in Southeast Asia at over 64%.

[1] The idea of the digital wallet scheme was first conceived by the Pheu Thai party in the leadup to the 2023 general election.

[12] The scheme was finalised by the National Digital Wallet Policy Committee headed by Srettha on 10 April with a planned roll out in the fourth quarter.

Although Thaksin, who was prime minister between 2001 and 2006, holds no formal position in his daughter's government, he has held considerable influence over Thai politics since his return from exile on 22 August.

[16] The scheme is primarily being implemented through the Thang Rath app and is the primary platform for eligible people to register with.

Registration is also available at participating 7-Elevens, Thailand Post offices, Boonterm and government service kiosks, and on the ThaID app.

[6] A second round of registration for people unable to register online was open between 16 September and 15 October.

[13] The Thai government has said that the scheme will boost Thailand's GDP by 1.2 to 1.8 percentage points and cause growth in 2025 to be at 5%.

[5] According to InnovestX, a subsidiary of Siam Commercial Bank, companies who run convenience stores, supermarkets, and hypermarkets will be major beneficiaries of the scheme.