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December 1, 2020updated 24 Feb 2022 12:51pm

Rapyd forays into Thailand with all-in-one payment services

British fintech-as-a-service (FaaS) platform Rapyd has launched its all-in-one suite of payment solution in Thailand.

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Rapyd offers a set of local and international payment methods including e-wallets, cash, credit and debit cards, and bank transfers.

Businesses around the world can now offer their Thailand-based consumers with access to local payment methods they prefer, during checkout.

To launch the service, Rapyd has partnered with Thai payment solution providers Rabbit LINE Pay, Omise, Razer Merchant Services, and GB Prime Pay.

Rapyd allows card payments using Visa and Mastercard payment cards, and bank transfers to and from Kasikorn, Krungsri, Siam Commercial Bank, Krung Thai Bank, and Bangkok Bank.

It enables real-time payments through PromptPay, e-wallets Rabbit LINE Pay and TrueMoney, and cash payments at Tesco Lotus and Big C.

Both local and international merchants can use Rapyd’s capabilities via a hosted checkout page or a checkout “Toolkit”.

They will have direct access to its API and SDKs to create a payment app, as well as access to its cross-border fraud management system Rapyd Protect.

Thailand businesses can access Rapyd’s Global Payments Network to accept consumer payments in 900 payments methods, across more than 100 countries worldwide.

Rapyd’s all-in-one payment service is available in Singapore, Brazil, the UK, Mexico, India, and South Korea, and now Thailand.

Comments

GB Prime Pay CEO Sarsira Aphirachhamemaphas said: “Our vision has always been focused on removing friction from electronic payments across industries.

“That is why we are excited to collaborate with Rapyd on making Thai payments more compatible and accessible to global merchants and e-commerce players.

“Together, we are able to create better opportunities for small, medium and large businesses operating in the Digital Economy.”

Omise chief commercial officer Raphael Lajoux said: “International merchants can increase their turnover by offering local payment methods and widening payment acceptance, while Rapyd and Omise are building stronger foundations and operational excellence to serve those merchants.”

Rapyd Asia Pacific VP Joel Yarbrough said: “We are thrilled to partner with leaders in the Thai payment ecosystem to offer preferred local payment options Thai consumers use every day for their online and physical transactions.

“And with the recent rollout of Rapyd Protect, an industry-leading online fraud tool, companies can have the confidence to grow their online business safely and securely while they tap the explosive potential of the Thai eCommerce market.”

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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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