Krungthai Bank (KTB), a developer of the Pao Tang digital payment application, aims to offer digital loans on the mobile app next year.
The bank is studying an expansion of the app to provide digital loans from 2023, said KTB president Payong Srivanich.
The Pao Tang app has around 40 million users and offers several digital payment services. The app was initially developed to support the government's social welfare and economic stimulus schemes during the pandemic.
Other services have been added to the app, including an investment channel for gold and bond products. Financial transactions on Pao Tang total around 100 billion baht.
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