PayPal is expanding its operation in Asia with a new office and operation opening in Thailand. PayPal already has operations in Singapore and Malaysia, the Philippines, Indonesia and Vietnam.
Somwang Luangphaibooonsri has been appointed as the new country manager for Thailand and he says that the country already has a significant amount of business in the country: “PayPal’s payment transactions in Thailand in the last couple of years were very active. The transactions on PayPal’s platform increased to double digits, which is the reason why we have to be here to be closer to take care of customers.”
Part of PayPal’s Thai strategy will be opening up Thailand to overseas shoppers. Somwang says: “We are one option payment for Thaitrade.com, an e-commerce platform operated by Department of International Trade Promotion. A lot of global players coming into Thailand is good. Together we can help educate the market and drive the growth of e-payment usage in Thailand.”
“Having local teams in Thailand will help PayPal’s performance get better. On the other hand, PayPal branding helping us easily approach merchants. We help merchants, especially small and medium business as well as individuals to understand PayPal’s business model better. We do not change them monthly or annual fees – they are charged only transaction fees.”
PayPal’s Q1 2017 results will be delivered on April 26th.