Worldpay enters Thailand
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This expansion is core to Worldpay's strategy for enabling global merchants to serve local consumers with preferred payment types, accelerating commerce through improved authorization rates, robust fraud protection, and efficient settlements. Worldpay supports domestic acquiring capabilities in nine markets in the Asia Pacific region including Australia, New Zealand, Singapore, Hong Kong, Japan, Malaysia, India, South Korea and now Thailand.
'The payments landscape is rapidly evolving in Thailand as we're seeing a significant shift from cash use to digital wallets and account-to-account (A2A). It's increasingly important for merchants operating in the market to deliver the right shopper experience with the fastest most secure payments possible,' said Gabriel de Montessus, president of global enterprise at Worldpay. 'Our in-market experts help merchants optimize their offerings, navigate complexities, and ensure they accept the right mix of payment types enabling them to unlock growth opportunities.'
The expansion brings the company's leading card acquiring services into Thailand where Worldpay will be able to provide domestic settlements in local currency to Thai merchants. In addition to card acquiring, Worldpay is launching access to four leading alternative payment methods in the market; LINE Pay, TrueMoney, PromptPay and online banking. Thai merchants will also have access to value-added solutions from Worldpay including powerful multi-layered fraud protection, dispute management services as well as consultative expertise backed by the company's global data insights. Further, for global operators, Worldpay provides a single point of integration to do business in more than 170 countries.
Local and international businesses operating in Thailand will be seeking to capture share of the country's fast-growing e-commerce market, expected to grow at 9% annually through 2030 according to the latest Worldpay Global Payments Report. Worldpay recently announced its expansion in Colombia, Mexico and the United Arab Emirates, as it continues to deliver on its strategic goal to expand its domestic acquiring capabilities worldwide.
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