Sweden beat Brazil 4-3 in a penalty shoot-out after the teams were locked goalless following extra-time on Tuesday to reach the final of the women's football tournament at the Rio Olympics.
Soccer's rule makers are considering a tennis tiebreak-type system to make penalty shootouts fairer.
Julia Grosso kept her cool with the decisive penalty in sudden death to give Canada top spot on the podium after bronze medals at London and Rio.
Sweden benefited from poor defending and the video assistant referee to beat England 2-1 in the women's World Cup third place playoff match on Saturday.
Thailand, coming off a record 13-0 loss to defending champions United States in their Group F opener, conceded twice in the opening 20 minutes as they struggled to win aerial battles against a much taller Swedish team.
A long-range strike from Jackie Groenen sent European Champions the Netherlands into their first women's World Cup final as they edged Sweden 1-0 after extra time in their last-four clash on Wednesday.
Cameroon overpower Ecuador; Nigeria score late to draw with Sweden
Sweden ended Germany's hopes of a third women's World Cup win, coming from behind for a surprise 2-1 quarter-final victory on Saturday thanks to goals from Sofia Jakobsson and Stina Blackstenius.
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