Global e-commerce payment market to witness rapid expansion, PayPal’s regional augmentation to multiply revenue prospects over the years to come
Category: #retail  By Saipriya Iyer  Date: 2017-04-11
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Global e-commerce payment market to witness rapid expansion, PayPal’s regional augmentation to multiply revenue prospects over the years to come

With a view to strengthen its regional presence, PayPal, one of the prime manufacturers operating in global e-commerce payment industry, recently announced that it intends to establish a physical imprint in Thailand. While the country’s merchants already have the benefit of online payments via PayPal, establishing a local office will help the multi-billion-dollar e-payment giant to engage better with local consumers. Stronger business relationships across the supply chain is also expected to help sustain PayPal’s position in global e-commerce payment market.

The company’s key mission of setting up a representative office in Thailand is to reach across every Thai e-merchant involved in myriad industries and businesses. PayPal’s transactions have increased two-fold in the last couple of years, owing to which PayPal’s executives are keen to commission an office location in the region. This will help expand the company’s regional base and stimulate e-commerce payment industry.

Global e-commerce payment market is driven by the worldwide presence of a massive online shopping pool. Reliable sources state that PayPal’s penetration into the SMB’s as well as huge corporations in Thailand also stems from this large internet shopping base. Most of their regional consumers are clients who purchase goods from Thai merchants. A local office will ensure that merchants remain free to pursue their marketing and promotional activities without the hassles of e-payments. Moreover, PayPal allows transactions in 25 currencies globally, which makes it easier for merchants to trade across the borders. In addition, PayPal’s risk management services will ensure the protection of Thai merchants. With effective buyer and seller security protocol in place, PayPal and other online payment systems are set to change global e-commerce payment industry dynamics.

PayPal’s liaisons with Thailand are not limited to online retail shopping alone. Recently, PayPal collaborated with Thai Airways International to ease the online booking process. As per the deal, the first 1000 foreigners booking Thai airway tickets via PayPal will be credited with a certain mileage into their THAI online portal account. This agreement has not only fostered the growth of Thai tourism industry, but also considerably propelled global e-commerce payment market, as per statistics.

E-commerce payment industry in Thailand is still at a nascent stage, and PayPal does not have any significant regional competitors yet. Reportedly, the company’s regional office representatives are on a mission to increase the scope of e-payments and reduce the usage of hard cash in the region. This conglomerate, with a global transaction revenue of more than USD 10,000, aims to modify every consumer’s perspective toward e-payment, bringing forth a major change in global e-commerce payment market outlook.



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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