Digital payment provider PayPal Thailand plans to expand its merchant base mainly in the tourism sector, which is a high-growth market for cross-border purchases via mobile devices.
PayPal entered the Thai market a few years ago. Country lead Somwang Luangphaiboonsri said Thursday that the number of merchant accounts in Thailand was behind individual accounts.
Fees from merchants are the main revenue source for PayPal. It collects a fee at 4.4 per cent plus a fixed fee based on the currency received for international payments. The discounted rate for merchants is 3.9 per cent plus the currency-determined fixed fee.
Somwang, who joined PayPal Thailand last November, has been assigned to expand the number of merchants in this country, mainly those involved in cross-border activities.
He said the tourism sector had high potential for PayPal, which will send teams to educate merchants in tourism-related businesses on the benefits of using digital payments for cross-border business.