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Me Tang App Developer Clarifies Legal Status and Interest Rates

Me Tang App Developer Clarifies Legal Status and Interest Rates

Matichon•Economy•1h ago

Reader Briefing

The developer of the Me Tang application issued a clarification asserting that the business operates legally under a Pico Finance license.

  • •Influencer Ben Apache claimed to lose over 2 million baht to a loan app claiming Ministry of Finance certification.
  • •The Department of Special Investigation (DSI) clarified that digital personal loan apps must be authorized by the Bank of Thailand.
  • •The Bank of Thailand has authorized only 8 private legal entities for such operations and requested app stores to remove unauthorized apps.
  • •Wannop Marattanaruek of P.F.K. Co., Ltd. clarified that Me Tang is licensed for Pico Finance by the Ministry of Finance.

Overview

  • •Ben Apache reported losing more than 2 million baht to a loan application that claimed to be legal and certified by the Ministry of Finance.
  • •The Department of Special Investigation (DSI) stated that digital personal loan businesses must be supervised and permitted by the Bank of Thailand.
  • •The Bank of Thailand has published a list of only 8 private legal entities authorized to operate such businesses generally.
  • •The Bank of Thailand sent letters to the Play Store and App Store to remove unauthorized applications.
  • •Ben Apache noted that the Me Tang application has been removed from the App Store.
  • •Wannop Marattanaruek, director of P.F.K. Co., Ltd., asserted that Me Tang operates according to legal requirements with a Pico Finance license from the Ministry of Finance.
  • •Wannop Marattanaruek stated that interest rates for Me Tang comply with Ministry of Finance regulations and that the app displays loan limits and repayment periods.
  • •P.F.K. Co., Ltd. provided a license as supporting documentation for its legal operation.

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Source: Matichon (Original)

Key Entities

Person

Ben Apache(เบ๊น อาปาเช่)
A famous influencer who claimed to lose over 2 million baht to a loan app.
Wannop Marattanaruek(นายวันนพ มารัตนะฤกษ์)
Director of P.F.K. Co., Ltd. and developer of the Me Tang application.

Organization

Department of Special Investigation (DSI)(กรมสอบสวนคดีพิเศษ (ดีเอสไอ))
The agency that issued a public relations document regarding the resolution of illegal loan application issues.
Bank of Thailand(ธนาคารแห่งประเทศไทย (ธปท.))ℹ️
The regulator responsible for authorizing digital personal loan businesses and requesting app removals from stores.
P.F.K. Co., Ltd.(บริษัท พี.เอฟ.เค.จำกัด)
The company that develops and provides the Me Tang application.
Ministry of Finance(กระทรวงการคลัง)ℹ️
The ministry that issued the Pico Finance license to P.F.K. Co., Ltd. and sets interest rate regulations.
Department of Business Development(กรมพัฒนาธุรกิจการค้า)
The department where P.F.K. Co., Ltd. registered as an electronic commerce operator.