DTAC preparing online payment to support new 3G mobile service
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DTAC, the second-largest mobile operator in Thailand, plans to prepare the online payment in order to deal with the growing up of 3G technology, mobile broadband market. It is also planning to provide its customers through mobile handsets and laptop notebooks in the near future.
Chief strategy officer Roar Wiki Andreessen revealed that DTAC, through its internet payment subsidiary Pays buy Co, is now moving upward in order to develop its online business and financial transactions to allow diversification and expansion. The Pays buy announced a commercial agreement with PayPal yesterday, an eBay company and the world’s leading online payment provider. This is in order to provide a key channel partner to help Thai businesses expand internationally.
Under the agreement, PaySbuy business members can offer PayPal as an extra payment method for international payments, extending their reaches to over 70 million online PayPal accounts in 190 markets worldwide. PayPal is the favorite online payment service to allow its members to send the money without sharing financial information.
The PaySbuy members will also benefit from a one-stop-shop payment solution that allows them to accept local and global payment methods on their websites, ranging from local ATMs to bank and mobile-phone payments, credit cards and PayPal. All members will be able to sign up with the service free of charge, while PayPal will only charge transaction fees when a payment is received. Apart from this, this service is without any monthly fees or set-up costs.
Mr. Andreessen further explained that the partnership would enable Thai businesses to offer local payment solutions through PaySbuy including providing an additional secure payment options internationally. Formerly, the overseas customers could only pay PaySbuy members through credit cards.
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According to the National Statistical Office of Thailand, the country’s e-commerce value was 427.460 billion baht in 2007. Business-to-consumer transactions contributed 14.8% of this figure, or 68.5 billion baht. This market is expected to grow 20-30% to 82 billion baht this year, while online e-commerce exports will increase by at least 10%.
Furthermore, 4,600 e-commerce shops have already registered with the Commerce Ministry. PaySbuy has also provided the online payment services to over 1,500 of them and giving it a 30% of market share with a trading value of 300 million baht by last year.
PaySbuy forecasts that its online trading value will grow up at least by 33% to 400 million baht this year.
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