PayPal to assist Thai SMEs
PayPal, one of the world’s leading digital payments companies, has agreed to help promote and facilitate Thai small and medium-sized enterprises (SMEs)'s cross-border trade.
Under the memorandum of understanding signed with the Department of International Trade Promotion (DITP), the payments company will provide SMEs in Thailand with data and insights to the global consumer buying trends that will help them in their business planning.
PayPal will also be launching a series of promotional activities to encourage Thai merchants to register with PayPal.
With PayPal’s high conversion rate at 87.5 per cent, which is 42 per cent higher than the standard checkout options, Thai businesses will be able reduce cart abandonment and also leverage PayPal’s global presence to expand their sales beyond Thailand and sell their goods and services overseas.
"We hope that with our support, local businesses will be provided with the opportunity to tap on current trends, attract the global consumer and become competitive players in the global marketplace. PayPal not only enhances the payment experience for consumers and merchants, but also takes care of the risk and security behind every transaction. This puts customers at ease when they are buying and also allows merchants to put their focus on improving customer satisfaction. As Thailand’s ecommerce continues to grow, we hope to be a partner to businesses as they look at expanding their presence beyond the shores of Thailand," said Rahul Shinghal, general manager for PayPal Southeast Asia.
