Rapyd, a Fintech-as-a-Service company, has announced the launch of its ‘all-in-one’ suite of payment capabilities in Thailand which is its seventh global market.

Rapyd’s solution is a comprehensive set of local and international payment methods that includes local ewallets, bank transfers, cash, credit and debit cards. International companies can now offer localised checkout experiences with access to the list of local payment methods preferred by Thai consumers.

Rapyd has partnered with leading Thai payment solution providers, including Rabbit LINE Pay, Omise, Razer Merchant Services and GB Prime Pay.

Businesses based in Thailand will also reportedly be able to access Rapyd’s Global Payments Network and expand internationally into more than 100 markets around the world by accepting payments from consumers in any of the 900 local payment methods supported by Rapyd.

According to JPMorgan, Thailand is the second largest e-commerce market in South East Asia with cross-border spending making up 50% of Thailand’s e-commerce spend. Thailand’s mobile commerce is valued at $8.9 billion in-app and $4.7 billion in-browser mobile purchases.

“The Thai government is building strong digital payment infrastructure and encouraging more digital wallet adoption. 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,”

said Joel Yarbrough, Vice President for Asia Pacific, Rapyd.

The expansion of the Rapyd Global Payments Network first took place in Singapore in November 2019, followed by Brazil in March 2020, the United Kingdom in June 2020, Mexico and India in July 2020, and South Korea in October 2020.

Featured image credit: edited from Pexels