Evaluating the economic impact of digital payments in Thailand: A time-series analysis from 2017 to 2024

This study investigates the growth and economic impact of digital payments in Thailand using time-series data from 2017 to 2024. With the increasing adoption of cashless transactions, understanding their influence on the economy is crucial for both policymakers and businesses. We employ an ARIMA model to forecast the value of digital payment transactions, identifying key predictors such as the number of transactions, bandwidth usage, rural population, and Consumer Price Index (CPI). The results demonstrate a robust model fit, indicating that digital payment adoption has significantly influenced Thailand’s financial landscape. The study highlights the role of digital payments in enhancing financial inclusion, economic efficiency, and transaction security. These findings offer valuable insights for government initiatives and business strategies aimed at further promoting digital payment systems, ultimately contributing to the development of a more efficient and transparent economy. Keywords: Digital Payments, Economic Impact, Arima Model, Financial Inclusion, Cashless Society, Thailand, Time-Series Analysis.