National Savings Fund Collaborates with ShopeePay to Enhance Digital Savings Platform
The partnership aims to facilitate member savings and expand access to financial services via e-commerce.
The National Savings Fund (NSF) of Thailand has entered into a partnership with ShopeePay (Thailand) Co., a subsidiary of the Chinese e-commerce platform, to create a digital platform for deposits and withdrawals of members' savings.
This collaboration was formalized during a memorandum of understanding signing on March 20, 2025, attended by Deputy Finance Minister Paopoom Rojanasakul, Charuluck Ruangsuwan, the NSF Secretary-General, and Supphavit Hongamornsin, the Managing Director of ShopeePay (Thailand).
Deputy Minister Paopoom stated that this initiative aims to enhance access for the NSF target group to savings opportunities in the digital landscape.
The ShopeePay app, widely used by millions of Thais for e-commerce activities, will now facilitate NSF membership registration, contributions, and access to additional services including installment payments and contributions to savings products like the retirement lottery.
The agreement is designed to streamline the process of saving for members and includes provisions for money transfer services as mandated by the NSF.
This encompasses operations such as refunds to members and participation in various savings projects aligned with the NSF’s objectives.
Additionally, the NSF is in the process of amending its regulations to implement a retirement lottery, a savings initiative designed to bolster retirement savings with the added motivation of cash prizes.
The draft amendment to the law is anticipated to be presented to parliament within the month.
Once approved, the retirement lottery is expected to create approximately 13 billion baht in annual savings, as stated by Deputy Minister Paopoom.
The NSF has been endorsed since 2015 as a key means of retirement savings for workers in the informal sector.
Over its ten years of operation, the NSF has registered around 2.8 million members, representing a portion of the estimated 20 million informal workers in Thailand.
The fund's total assets have reached 14.5 billion baht, with an investment strategy that allocates 80% to debt instruments and 20% to equities.
In the previous year, the fund generated a return of approximately 2%.
This collaboration was formalized during a memorandum of understanding signing on March 20, 2025, attended by Deputy Finance Minister Paopoom Rojanasakul, Charuluck Ruangsuwan, the NSF Secretary-General, and Supphavit Hongamornsin, the Managing Director of ShopeePay (Thailand).
Deputy Minister Paopoom stated that this initiative aims to enhance access for the NSF target group to savings opportunities in the digital landscape.
The ShopeePay app, widely used by millions of Thais for e-commerce activities, will now facilitate NSF membership registration, contributions, and access to additional services including installment payments and contributions to savings products like the retirement lottery.
The agreement is designed to streamline the process of saving for members and includes provisions for money transfer services as mandated by the NSF.
This encompasses operations such as refunds to members and participation in various savings projects aligned with the NSF’s objectives.
Additionally, the NSF is in the process of amending its regulations to implement a retirement lottery, a savings initiative designed to bolster retirement savings with the added motivation of cash prizes.
The draft amendment to the law is anticipated to be presented to parliament within the month.
Once approved, the retirement lottery is expected to create approximately 13 billion baht in annual savings, as stated by Deputy Minister Paopoom.
The NSF has been endorsed since 2015 as a key means of retirement savings for workers in the informal sector.
Over its ten years of operation, the NSF has registered around 2.8 million members, representing a portion of the estimated 20 million informal workers in Thailand.
The fund's total assets have reached 14.5 billion baht, with an investment strategy that allocates 80% to debt instruments and 20% to equities.
In the previous year, the fund generated a return of approximately 2%.
