Bangkok--30 Mar--DTAC
PAYSBUY, a subsidiary of dtac, has signed a commercial agreement with PayPal, an eBay company and the world’s leading online payment provider, to become a key channel partner to help Thai businesses expand internationally. Under the agreement, PAYSBUY business members will be able to offer PayPal as an additional payment method for international payments, extending their reach to over 70 million active, online PayPal accounts in 190 markets around the world.
With the collaboration between PAYSBUY and PayPal, Thai entrepreneurs can also benefit from a one-stop-shop payment solution which allows them to accept local and global payment methods on their websites, ranging from local ATM, bank and mobile phone payments, to the major credit cards, and now, PayPal.
Somwang Luangpaiboonsri, general manager of PAYSBUY Company Limited, says the partnership with PayPal will not only enable Thai businesses of all sizes to offer local payment solutions thru PAYSBUY, but also provide a variety of additional secure payment options globally with PayPal.
“In the past, PAYSBUY’s business members could only offer credit cards to their overseas customers, limiting orders. Thanks to this partnership, international customers buying from Thai businesses can now pay conveniently through PayPal using their local payment method of choice — without disclosing their financial details. This will help build trust and encourage more foreign buyers, especially those who have PayPal accounts, to buy products from Thailand.” says Somwang.
Mario Shiliashki, general manager of PayPal Southeast Asia and India says that PayPal can stimulate Thailand’s export sector and accelerate e-commerce growth by enabling local businesses access to new markets and international buyers, which can add to their bottom line profits.
“Working with PAYSBUY is a natural fit with PayPal’s objectives to empower Thai SMEs and sole proprietors to extend their reach beyond Thailand and take advantage of global business opportunities. The partnership allows PAYSBUY to provide its members with the ability to drive incremental sales* and increase online conversions with PayPal**. In key import markets such as the U.S, U.K., and Australia, where PayPal is one of the most preferred ways for consumers to pay online***, offering PayPal could lift sales and profits for PAYSBUY members.” says Shiliashki.
Roar Wiik Andreassen, chief strategy officer, Total Access Communications PLC (dtac), says with e-commerce still growing in Thailand, the partnership between PAYSBUY and PayPal, will lay the foundation for the diversification and expansion of online businesses and financial transactions while at the same time invigorating the economy through exports.
About the partnershipNew and existing PAYSBUY business members will be able to sign up to this service free of charge, giving them the ability to offer PayPal as one of the payment options for international buyers at checkout. PayPal does not charge any monthly fees or set up costs, simply the standard PayPal transaction fees apply when a payment is received. Additionally, PAYSBUY business members can login to their PAYSBUY account to view the status of their PayPal and PAYSBUY payments from one central location.
About PayPalPayPal is the safer, easier way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their credit cards, bank accounts (in approved countries), or account balances. With more than 70 million active accounts in 190 markets and 19 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company and is made up of three leading online payment services: the PayPal global payments platform, the Payflow Gateway, and Bill Me Later. More information about the company can be found at https://www.paypal.com.
In the U.S., PayPal is the most preferred payment service on the Web after Visa. In the UK and Australia, PayPal is the most preferred payment service on the Web***.
PayPal’s Total Payment Volume in 2008 represented nearly 9 percent of global e-commerce and 15 percent of US e-commerce. (based on Forrester estimates of US e-commerce with the addition of eBay Inc. internal metrics totaling $256B)
PayPal is headquartered in San Jose, California. Its international headquarters (PayPal Private Limited) are located in Singapore.
Consumer advisory - PayPal Pte. Ltd., the holder of PayPal's stored value facility, does not require the approval of the Monetary Authority of Singapore. Users are advised to read the terms and conditions available at www.paypal.com carefully before use.
About PAYSBUYPAYSBUY was founded in 2004 by a group of people who have long experiences in finance and banking. They created the online payment system through the www.PAYSBUY.com website. PAYSBUY applies Secured Socket Layer (SSL) and other information protection technologies to offer the best security to service users. PAYSBUY was licensed as an electronic money card operator by the Bank of Thailand and received a Trustmark from the Department of Business Development under the Ministry of Commerce. Being supported by one of the leading telecommunication services providers in Thailand, Total Access Communication Public Company Limited or ‘dtac’, as major shareholder since 2008 has ensured that PAYSBUY will prosper together with e-commerce and e-wallet users and never stop developing to fully satisfy its customers.
Today PAYSBUY is the main online payment for over 1,500 shops and has a 30% share in the Thai market. It expects to add 200 more shops this year. Payments through PAYSBUY amounted to 300 million baht in 2008 and the figure should grow by 33% this year.
About dtacTotal Access Communication Public Company Limited, or ‘dtac’, is one of the leading mobile operators in Thailand with nearly 19 million subscribers. Founded in August 1989, dtac has since then played a leading role in the local mobile telecommunication market, gaining considerable brand presence and market share. It delivers high quality, excellent value and innovative mobile communications services to customers.
* PayPal can increase sales by an average 14% by delivering greater shopping convenience. Source: PayPal 2006 survey of 200+ US sellers who were already accepting credit cards online, but added PayPal showed an average sales lift of 14%.
** PayPal’s Express Checkout solution has a 72% conversion rate. Source: Based on PayPal Q2 2007 analysis on Top 100 PayPal merchants in UK and US combined (in terms of volume).
***In the U.S., PayPal is the most preferred payment service on the Web after Visa. In the UK and Australia, PayPal is the most preferred payment service on the Web. Source: PayPal Brand Tracker Q4 08 and AC Nielsen.
Media Relations Division - dtac
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