Payments giant, Worldpay, ventures into Thailand, extending its presence in the Asia-Pacific region amidst aggressive acquisition efforts.
Worldpay, a global leader in payment solutions, has announced its expansion into the Thai market, providing local merchants with a range of alternative payment methods to cater to the rapidly evolving payments landscape in the country.
The expansion marks a significant step for Worldpay, as it offers Thai merchants access to four alternative payment methods: LINE Pay, TrueMoney, PromptPay, and online banking. These options are popular locally and reflect the significant shift in Thailand from cash to digital wallets and account-to-account (A2A) payments.
Worldpay's platform includes more than just card acquiring solutions. It also offers merchants multi-layered fraud protection, dispute management services, and consultative expertise to help optimise their offerings and navigate complexities. This comprehensive approach makes it easier for businesses, including global operators expanding into Thailand, to offer payment experiences aligned with Thai consumer preferences and tap into the growing eCommerce market projected to grow by 9% annually through 2030, according to the Worldpay Global Payments Report.
Gabriel de Montessus, President of Global Enterprise at Worldpay, emphasised the importance of accepting the right mix of payment types for merchant growth. He said, "We are excited to bring our extensive expertise and innovative solutions to the Thai market. By offering a diverse range of payment methods, we are helping merchants adapt to the changing payments landscape and providing them with the tools they need to succeed."
Worldpay's expansion in Thailand also includes domestic settlements in local currency, ensuring that merchants can settle transactions efficiently and cost-effectively. Moreover, it supports domestic acquiring capabilities in nine markets in the Asia Pacific region, reinforcing its commitment to the region's growth.
Recent announcements by Worldpay include its expansion into Colombia and Mexico, demonstrating its continued growth and commitment to providing innovative payment solutions worldwide. With its entry into Thailand, Worldpay is well-positioned to support the growth of the Thai eCommerce market and help merchants thrive in this dynamic environment.
Worldpay's expansion into Thailand allows them to cater their innovative payment solutions, including LINE Pay, TrueMoney, PromptPay, and online banking, to the local merchants, reflecting the shift from cash to digital wallets and account-to-account (A2A) payments in the country's business landscape. Additionally, Worldpay's platform offers merchants fraud protection, dispute management services, and expert consultation to optimize their offerings, demonstrating their commitment to helping businesses succeed in the evolving finance technology sector.
