TrueMoney

What TrueMoney does

TrueMoney is Thailand's leading digital wallet platform, operated by TrueMoney Co. Ltd. (บริษัท ทรู มันนี่ จำกัด) and held under Ascend Money within the Ascend Group, which has strategic backing from Ant Group. The company serves a mass-market Thai consumer base plus Thai SMEs and digital entertainment consumers, enabling QR code and NFC tap-to-pay at 7 million+ acceptance points in Thailand and 50 countries via the Alipay+ network. Core technology includes PromptPay-standard QR payments, NFC contactless rails, the TrueMoney Open API platform for B2B integration, and the TrueMoney Secure face-scan biometric authentication system.

TrueMoney's product portfolio spans a full super-app stack organized around three pillars: spending and payments (TrueMoney e-Wallet, bill payment, TrueMoney Mastercard/SME Card, Mastercard co-brand, 7-Eleven/Makro/Lotus's acceptance), financial services (Money Plus savings via KKP, gold savings, mutual funds, retail and government bonds, National Savings Fund, Pay Next/Pay Next Extra BNPL, KKP Cash Now loans, insurance distribution, Smartphone Installment), and entertainment/services (Games Top-Up Center with 100+ titles, MGames mini-games tournaments with MPoint cash rewards, and subscription billing for Netflix, Disney+, Spotify, YouTube Premium, iQIYI, WeTV, Viu, Prime Video, Apple App Store, Google Play, Steam, and others). Cross-border payments extend to Japan, Korea, China, Myanmar, and Cambodia.

Revenue is generated through a multi-stream model: merchant transaction fees across the QR/NFC acceptance network, marketplace commissions on game top-ups and digital content sales, transaction fees on international remittances, interest income from credit facilities (Pay Next, KKP Cash Now, smartphone installments), and affiliate/referral fees from insurance, savings, investment, and government product distribution. Customer acquisition runs product-led growth via the mobile app, with gamified engagement, a multi-tier referral program, and TrueMoney Coin loyalty.

Name

TrueMoney

Legal name

TrueMoney Co. Ltd.

Website

https://truemoney.com

Company type

Private

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

TrueMoney is Thailand's leading digital wallet platform, operating under Ascend Money with Ant Group backing. It enables QR and NFC payments at 7M+ acceptance points, distributes savings/credit/insurance, and aggregates 100+ games and 12 streaming platforms via a super-app.

Ownership category

akta.pro rank

Product category

Digital Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Sales Financing (52222)

SIC

Finance Services (6199)

akta.pro primary industry

General-Purpose Digital Wallets (P2P + Merchant) (FSAMAEAA)

akta.pro secondary industries

QR Code Payments Wallets (FSAMAEAC), Mobile Wallets (NFC Tap-to-Pay / HCE) (FSAMAEAB), Alternative Payment Methods (APMs) Enablement (BNPL, wallets, local methods) (FSAMACAE), Consumer P2P International Remittances (FSAGAKAA)

Keywords

• Mobile wallet payments
• QR code payments
• Digital payment platform
• Fintech super app
• Mobile financial services

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure, Supply Chain

Revenue model

1. Merchant Transaction Fees: TrueMoney charges merchants a fee for processing QR code payments, NFC tap payments, and other transactions at physical retail points. Coverage spans 7 million acceptance points across Thailand and 50 countries/tourism destinations.
2. Game Top-Up and Digital Content Commission: TrueMoney earns commission from facilitating game credit purchases (over 100 games via Games Top-Up Center) and digital content purchases (streaming subscriptions, app store payments) through its platform. Social sellers verified by TrueMoney process game top-up orders.
3. Cross-Border Money Transfer: International money transfer services to Myanmar, Cambodia, and other countries, generating fees per transaction.
4. Credit Products (Pay Next / Loans): Revenues from credit facilities including Pay Next (buy now pay later), KKP Cash Now loan disbursements, and smartphone installment plans, generating interest income.
5. Insurance Distribution: Commission earned from selling insurance products (accident, travel, motor, cancer) through the TrueMoney platform.
6. Investment and Savings Product Distribution: Revenue from facilitating gold savings, mutual fund investments, government bond purchases, and National Savings Fund contributions, earning referral/distribution fees from financial product partners.

Pricing tiers

Go-to-market motion1 record

Distribution channels11 records

Marketing channels5 records

Core offering

TrueMoney operates a mobile digital wallet application that enables Thai consumers to make QR code and NFC contactless payments at 7 million+ acceptance points in Thailand and 50 countries, transfer money via phone numbers, and access integrated financial services including savings, investments, insurance, and credit. The platform also aggregates entertainment subscriptions (12 streaming services), game top-ups for 100+ games, cross-border remittances to Myanmar and Cambodia, and B2B payment acceptance via an Open API and SME card products.

Product overview

TrueMoney operates as a comprehensive fintech super-app centered on its TrueMoney e-Wallet core product, which serves as Thailand's leading digital wallet platform. The product portfolio is organized around three main pillars: spending and payments (encompassing QR/NFC payments at 7 million+ retail locations, online shopping, bill payments, and card services), financial services (including Money Plus savings account, gold savings, mutual funds, bonds, insurance, and credit products), and entertainment/services (featuring Games Top-Up Center with 100+ supported games, MGames mini-games platform with tournaments, and subscription payments for Netflix, Disney+, Spotify, YouTube Premium, and other streaming platforms). Business solutions are offered through TrueMoney Open API, Money Box, and TrueMoney Gift Card. The ecosystem extends internationally via cross-border payments in Japan, Korea, and China through Alipay+, and supports co-branded Mastercard products (TrueMoney Mastercard and TrueMoney SME Card). All services are accessed through a single mobile application with TrueMoney Coin loyalty rewards and TrueMoney Secure face-scanning authentication.

Differentiator

Problem solved

Functional benefit

Brands

• Money Plus (มันนี่พลัส): Savings account feature that helps users grow their money through savings and earning potential.
• Pay Next (เพย์ เน็กซ์)
• Pay Next Extra (เพย์ เน็กซ์ เอ็กซ์ตร้า)
• MGames (มินิเกม)
• Games Top-Up Center
• TrueMoney SME Card
• TrueMoney Mastercard
• TrueMoney Rewards
• TrueMoney Secure
• TrueMoney Open API
• MoneyBox (มันนี่ บ็อกซ์)
• TrueMoney Gift Card
• TrueMoney Smart School
• TrueMoney Transfer

Products and services

• TrueMoney e-Wallet Thailand's leading digital wallet application enabling QR code payments, NFC contactless payments, money transfers via phone number, bill payments, mobile top-ups, and access to financial services across 7 million+ retail points in Thailand and 50 countries. Available on any phone number and any carrier.
• Pay Next / Pay Next Extra Credit facility within the TrueMoney wallet allowing users to spend first and pay later, providing flexible credit for purchases and bill payments. Pay Next Extra offers a higher credit limit tier.
• Money Plus (Savings Account) Savings account upgrade within the TrueMoney wallet enabling users to earn interest on balances, with NDID-based identity verification for account opening and deposits held at partner bank KKP.
• Gold Saving Digital gold accumulation and savings service allowing users to buy and store gold through the TrueMoney app with secure storage.
• Mutual Funds Mutual fund investment product offering easy onboarding through the TrueMoney wallet for users seeking diversified fund investments.
• BondPO (Corporate Bonds) Retail bond investment product allowing users to invest in corporate bonds with regular returns through the TrueMoney app.
• Government Bond Fund Thai government bond investment product accessible directly through the TrueMoney app.
• National Savings Fund (กอช.) Government pension savings product distributed via the TrueMoney wallet, allowing users to contribute to the National Savings Fund and receive government pension matching.
• KKP Cash Now (Personal Loan) Personal loan product in partnership with Kiatnakin Phatra Bank (KKP) providing quick access to cash credit through the TrueMoney app, with KKP as the originating lender.
• Smartphone Installment Installment payment plan for smartphone purchases with convenient credit terms accessed through the TrueMoney wallet.
• Insurance Services Insurance brokerage offering personal accident, travel, motor, and cancer insurance policies distributed through the TrueMoney platform.
• TrueMoney SME Card Mastercard-branded prepaid business debit card designed for SME owners to manage business expenses, with TrueMoney wallet integration.
• TrueMoney Mastercard Mastercard-branded prepaid card enabling online and offline payments at Mastercard acceptance points worldwide, with funds loaded from the TrueMoney wallet.
• TrueMoney Open API Business API platform enabling merchants, SMEs, and partners to integrate TrueMoney payment acceptance, money transfer, and payout services into their own systems.
• Money Box Business solution for managing payment collection, receipts, and money transfers for SME merchants and small business owners.
• TrueMoney Gift Card Gift card product for businesses to use as employee benefits, customer rewards, or promotional gifts via the TrueMoney platform.
• TrueMoney Smart School Financial management solution for educational institutions enabling fee collection, student allowance disbursement, and school payment management.
• Cross-Border Payment Service International payment and remittance service enabling payments abroad in Japan, Korea, and China via Alipay+ partnership, and cross-border money transfers to Myanmar and Cambodia via TrueMoney Transfer.
• Games Top-Up Center Aggregator marketplace integrating over 20 third-party game top-up merchants offering discounted game credits for 100+ games including Free Fire, RoV, PUBG Mobile, Genshin Impact, Roblox, and Valorant, paid via TrueMoney wallet.
• MGames (Mini Games) In-app mini-games platform featuring casual games and competitive tournaments where players use Tokens to enter and win MPoints redeemable for cash. Includes Fish Legends Arcade and weekly tournament games.
• TrueMoney Transfer (International Remittance) International money transfer service enabling remittances to Myanmar, Cambodia, and other countries via TrueMoney's dedicated transfer platform.

Quantifiable outcome

• Coverage of 7 million+ acceptance points across Thailand and 50 countries/tourism destinations
• +3 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration32 records

AI capability2 records

Feature5 records

Partnerships

15 partnerships are on record, tiered core and minor.

• 7-Eleven ThailandcoreChannel Partner/ Reseller/ Distributor7-Eleven Thailand is the primary physical acceptance and cash-in network for TrueMoney, with over 14,000 stores across the country. TrueMoney QR and NFC payments are accepted at all 7-Eleven stores, and the chain serves as a key marketing channel for TrueMoney promotional campaigns.
• Alipay+ (Ant Group)coreTechnology or IntegrationAlipay+ enables TrueMoney users to make payments at international merchant terminals in 50 countries and global tourism destinations. This integration extends TrueMoney's reach beyond Thailand's domestic payment infrastructure to a global network of QR-accepting merchants.
• PromptPay (National QR Payment Standard)coreTechnology or IntegrationTrueMoney is integrated with Thailand's national PromptPay QR payment standard, enabling interoperability with all banks and payment providers operating under the PromptPay ecosystem.
• NDID (National Digital ID)coreTechnology or IntegrationTrueMoney uses NDID (National Digital ID) for advanced identity verification required to open Money Plus savings accounts and access higher-tier financial services, meeting regulatory KYC requirements.
• National Savings Fund (กอช.)minorStrategic or Co-development PartnerTrueMoney distributes the government's National Savings Fund (กอช.) pension product, allowing users to save for retirement directly within the TrueMoney app and receive government pension contribution matching.
• NetflixcoreChannel Partner/ Reseller/ DistributorTrueMoney is offered as a direct payment method on Netflix Thailand, allowing users to subscribe without a credit card by linking their TrueMoney mobile number for recurring payments.
• Disney+coreChannel Partner/ Reseller/ DistributorTrueMoney serves as a payment method for Disney+ subscriptions in Thailand, with Standard (199 baht/month) and Premium (289 baht/month) plans available. Payments are processed through TrueMoney with automatic billing.
• YouTube / GooglecoreChannel Partner/ Reseller/ DistributorTrueMoney is integrated as a payment method for YouTube Premium, YouTube Music Premium, and Google Play purchases, enabling Thai users to subscribe without international credit cards.
• iQIYIcoreChannel Partner/ Reseller/ DistributorTrueMoney serves as a payment method for iQIYI VIP subscriptions in Thailand, offering Alipay+ based payment integration for Thai users.
• ApplecoreChannel Partner/ Reseller/ DistributorTrueMoney is integrated as a payment method for Apple App Store, Apple Music, iTunes, and Apple One subscriptions, with biometric authentication via Face ID/Touch ID for seamless purchases.
• Steam (Valve Corporation)coreChannel Partner/ Reseller/ DistributorTrueMoney enables Steam wallet top-up and game purchases for Thai gamers, with no 1% foreign exchange fee when paying via TrueMoney wallet, providing a cost-effective alternative to credit card payments.
• Game Social Sellers (Richman Shop, Over Top Up, wePay, P2W Topup, and others)coreChannel Partner/ Reseller/ DistributorVerified social sellers operating within the Games Top-Up Center, offering game credits for over 100 games including Free Fire, RoV, Genshin Impact, and Roblox. All sellers are KYM-verified and approved by TrueMoney.
• MakrominorChannel Partner/ Reseller/ DistributorQR code and NFC payment acceptance at Makro wholesale stores, enabling TrueMoney users to pay for bulk purchases at the Thai wholesale retailer.
• Lotus'sminorChannel Partner/ Reseller/ DistributorQR code and NFC payment acceptance at Lotus's supermarket and hypermarket locations across Thailand.
• MastercardcoreTechnology or IntegrationTrueMoney issues co-branded Mastercard debit cards (TrueMoney Mastercard, TrueMoney SME Card, True Mastercard) enabling offline and online payments at any Mastercard acceptance point globally, and enabling Google Pay integration.

Scale indicators3 records

Recent moves3 records

Expansion highlights5 records

Regional players

• OVO: Indonesian digital wallet with payments, rewards, and merchant services. Comparable as a Southeast Asian e-wallet with QR payment acceptance and merchant partnerships, though operating in a different geography.
• DANA: Indonesian digital wallet backed by Ant Group. Comparable as a Southeast Asian QR/NFC mobile wallet with merchant acceptance and P2P transfers, serving the Indonesian market rather than Thailand.
• MoMo (M_Service): Vietnam's leading mobile wallet and super-app offering payments, transfers, and financial services. Comparable super-app model to TrueMoney, serving the Vietnamese market with similar QR payment and merchant acceptance focus.
• GCash: Philippines' leading mobile wallet, also part of the Ayala/Ant Group ecosystem. Highly comparable super-app model covering payments, savings, credit, and investments, but operating in a different national market.

Direct peers

• GrabPay: Grab's mobile wallet within its super-app operating in Thailand and across SEA. Directly comparable to TrueMoney as a multi-service wallet covering payments, transfers, and merchant acceptance within a ride-hailing super-app ecosystem.
• Omise: Thai payment gateway serving merchants with online payment processing. Comparable to TrueMoney's Open API and merchant acceptance business, focusing on payment infrastructure for Thai merchants and developers.
• ShopeePay: SEA e-wallet from Sea Group, integrated within the Shopee e-commerce platform. Directly competes with TrueMoney in Thailand for QR payments, online shopping checkout, and merchant acceptance, with strong e-commerce-driven engagement.
• 2C2P: Thailand-based payment processor providing merchant acquiring and payment orchestration across SEA. Comparable to TrueMoney's payment acceptance and Open API offering, with similar merchant base and regional footprint.
• Rabbit LINE Pay: Thai mobile wallet operated jointly by LINE and KBank. Directly competes with TrueMoney in Thai consumer QR payments, P2P transfers, and merchant acceptance, with overlapping customer base of mass-market Thai consumers.

Broad incumbents

• Alipay: Ant Group's flagship global super-app wallet and payment platform. Comparable as a comprehensive QR/NFC mobile wallet with super-app functionality; relevant as both a strategic partner to TrueMoney (via Alipay+) and a broader incumbent in digital payments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/truemoney
• LinkedInlinkedin.com/company/truemoney

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TrueMoney