This move enables global merchants to serve local consumers with their preferred payment types, the company said in a Thursday (July 3) press release.
Together with card acquiring, Worldpay has launched access to four alternative payment methods that are popular in the Thai market: LINE Pay, TrueMoney, PromptPay and online banking, according to the release.
“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),” Gabriel de Montessus, president of global enterprise at Worldpay, said in the release. “It’s increasingly important for merchants operating in the market to deliver the right shopper experience with the fastest most secure payments possible.”
With the addition of Thailand, Worldpay now supports domestic acquiring capabilities in nine markets in the Asia-Pacific region. The others include Australia, Hong Kong, India, Japan, Malaysia, New Zealand, Singapore and South Korea, according to the release.
Worldpay is also expanding in other regions, having announced the addition of Colombia, Mexico and the United Arab Emirates (UAE) over the last two years.
The company announced its entry into the Colombian market in May, saying the country has one of the fastest growing eCommerce markets in Latin America.
Worldpay expanded into Mexico shortly before that, saying the move was part of its strategic plan to extend the global reach of its domestic merchant acquiring capabilities.
The company announced its plans to expand its payment processing capabilities into the UAE in April 2023, saying it secured a new domestic license that would enable it to offer its payment services to both local companies looking to sell globally and enterprises aiming to expand in the market.
The PYMNTS Intelligence and Worldpay collaboration “Big Three: How Choice, Confidence and Convenience Drive Payments Optimization” found that ensuring customers have their preferred payment options available is a primary driver of customer loyalty.
Seventy percent of consumers consider the availability of their preferred payment method “very or extremely influential” when choosing a merchant for online purchases, according to the report.
