Frozen bank account fears hamper QR codes

Retailers scared off by mule crackdown

- KUAKUL MORNKUM NAREERAT WIRIYAPONG

Restaurant, wholesale and retail associations have expressed their concern about offering transfer or QR payment options to customers, fearing their accounts might be frozen as authorities address the mule account issue.

Chanon Koetcharoen, president of the Restaurant Association, said that no members of his body had had their accounts frozen and none had stopped offering bank transfer options to their customers.

However, he anticipated that the news might raise concerns among restaurants in rural areas regarding these payment methods.

Typically, medium-sized to large restaurants operate on credit terms for purchasing raw materials and often hold multiple bank accounts.

If one account was frozen, it might not suddenly impact overall cash flow, he said.

However, small vendors and street food operators may only have a single account, and they heavily rely on daily cash flow. Thus, if their account were to be frozen, it would definitely impact their business.

"If the uncertainty persists, it may create more worry among operators, leading to a hesitance to use bank transfers or QR payments," Mr Chanon said.