Exploring the Financial Behaviors and Barriers of Low-Wage Workers in Thailand: Implications for E-Banking Application Design

Abstract

Financial inclusion remains a significant challenge for Thailand's low-wage workers, who often struggle to access traditional banking services. While E-banking applications offer potential solutions, their design must address the specific needs of this vulnerable population. This study investigates the financial behaviors and challenges of low-wage workers in Thailand to inform the development of more inclusive E-banking applications. Through semi-structured interviews with 25 low-wage workers across various sectors and 10 stakeholders including bank representatives and financial inclusion experts, we identified four key themes: (1) Income Volatility and Cash Flow Management, (2) Limited Financial Literacy and Access to Information, (3) Barriers to Formal Banking, and (4) Reliance on Social Networks and Informal Financial Practices. Based on our findings, we propose five essential design implications for inclusive E-banking applications: tiered KYC requirements, visual and voice-based interfaces, integrated budgeting tools, micro-transaction capabilities, and community-based financial support networks. These recommendations aim to bridge the gap between traditional banking services and the needs of low-wage workers, contributing to the literature on inclusive financial technologies while providing practical guidance for financial institutions and policymakers in Thailand.