Are you willing to start your online business in Thailand? Well, you need a suitable payment gateway Thailand and a merchant account to accept online payments.
Online enterprises are already flourishing in Thailand. Since 2017, Thailand's online market has grown significantly and is worth $27 billion. The young population of the country and the rising popularity of internet shopping may be to blame for this surge. Thailand's popularity among online enterprises can be attributed to the country's wide selection of payment channels.
Social media and mobile commerce have also helped Thailand overtake other e-commerce-developed countries. The Thai government's implementation of many tax policies encouraging online businesses has also significantly influenced growth.
Many payment gateways are available today in Thailand, but not all are suitable for all online businesses. So, ensure your payment gateway Thailand has convenient features that help you accept payment online and grow your business.
Here, we discuss in detail about payment gateway Thailand. So, let's start.
Thailand’s Market Overview -
Southeast Asia's fastest-growing economy is none other than Thailand. Business-to-consumer e-commerce in Southeast Asia is the second-largest market in the region after Indonesia, according to J.P. Morgan Chase Bank's Economic Research from March 2019, and its value is around $26.2 billion.
Thailand is regarded as a mobile-first nation where the use of smartphones and other mobile devices outpaces that of desktop computers. With 52% of all online shopping transactions occurring in the Thai mobile commerce sector, valued at $13.6 billion, it has already surpassed all other e-commerce sales channels in the nation. The nation is now recognized as a regional leader in mobile commerce.
Thailand at Glance -
|E-commerce Market Value
|Mobile Commerce Market Size
||$ 13.2 billion
|Smart Phone Penetration
|Card Penetration Per capital
|Mobile Commerce as a % of e-commerce market size
How Is Digital Transformation Driving Online Businesses in Thailand?
One of the most technologically sophisticated cultures in the Asia-Pacific is Thailand. Most people in this area are young and frequently use social media, due to this reason it is the favourite place for the merchants.
- More than 72% of regional fintech firms are interested in offering a clever way to transfer services.
- One of the highest rates in the world, 40% of Thai clients use social commerce.
The average internet expenditure is $1,738, more than any other country in Southeast Asia. Even businesses that merely take a couple of Thailand's most popular payment methods may see significant growth.
Today, you can get many payment service providers in Thailand. But not all are compatible with all types of businesses. For example, if you are running a high-risk business, you must look for a high-risk payment gateway and high-risk merchant account. In the same way, if you want to serve the customer worldwide, you have to go with the international payment gateway.
So, any merchant must do lots of research before making any decision. As a merchant, ensure that your chosen payment gateway Thailand offers all the necessary features. Your payment gateway Thailand must have the following features -
Today, every payment gateway Thailand comes with this feature. Security is the top priority for any merchant. This feature is essential for both merchants as well as customers. All payment gateways Thailand provide robust security. It is compulsory to have a PCI DSS level 1 compliant for any local or international payment gateway because it helps merchants protect the customer's sensitive data. Before making any decision, ensure that your payment gateway Thailand offers you the following futuristic security measurement tools -
- PCI DSS Level 1compliance
- Anti-fraud tools
- Anti-chargeback tools
Hassle-free Integration Process -
The payment gateway Thailand must have seamless integration with your websites. You can save time and effort by automating the updating of your data when payment integration is enabled, which also lowers the possibility of errors. The tool you are currently using will start to reflect every new sale where the payment is made digitally.
Detailed Reporting -
The best payment gateway Thailand offers you detailed reporting. A payment gateway is a virtual terminal that records completed transactions for most merchants. But if configured properly, it will provide you with much more than actual. You may make intelligent business decisions using a reputable and best payment gateway Thailand, which can provide thorough reporting and quicker reconciliation.
Invoicing Solutions -
Invoicing solutions are like a blessing for any merchant in Thailand. It can provide a practical solution to take payments and helps speed the payment process. Additionally, it increases control over tracking and internet processing activities.
Multiple Payment Options -
It is one of the most critical features of any payment gateway Thailand. When merchants allow their customers to make the payment how they like, it will help gain customer confidence, leading to repeat visits and a boost in sales. So, include all the possible payment options for your customers.
Most payment gateway Thailand can offer multiple payment methods. Some of the most popular payment methods in Thailand are -
- Credit/debit cards
- Net banking
- Bank Transfer
- Mobile Payments
Fast Processing Speed -
A good payment gateway Thailand must have this feature. Money must be sent from a customer's account to a retailer's account as quickly as possible. Faster processing speeds offer a hassle-free experience to customers.
How To Get All The Features On One Platform?
It is not easy work for any small business or new commerce to have multiple payment gateway features on their websites. But, thanks to PayCly. With PayCly, you can get the best payment gateway Thailand features through a single integration which helps merchant boost their sales, and as a result, the merchant can gain more and more profits.
PayCly is one of Thailand's most popular and leading payment service providers. It is compatible with all types of businesses, from high-risk to low-risk. As “PayCly,” we have many years of experience in dealing with high-risk businesses, so we completely understand what you expect from us, and the best thing is that we offer you the same.
With us, the merchant can hassle-free get the high-risk gateway, high-risk merchant account instant approval, and high-risk payment processor at one platform, so don't hesitate to contact us. We offer you all the possible solutions according to your business model at a reasonable rate.
Which Industries Does PayCly Cover?
As “PayCly,” we deal with all types of businesses, especially high-risk ones. Some of the most popular industries which we cover are -
Final Thoughts -
As Thailand is one of the fastest-growing markets, merchants must provide their customers with reliable payment solutions. In the Thai market, many payment service providers are available with various features. So, as a merchant, you must choose the one that fits your business requirements.
We suggest you go with PayCly. PayCly is one of the most popular and widely used payment gateways which support all types of businesses. Once you choose PayCly, you can get many benefits at best prices in the market.
So, what are you waiting for? Finalize your deal and enjoy your success with PayCly. Contact our expert team to learn more about the payment gateway Thailand.