BANGKOK, Thailand, 6 June 2017 – PayPal, a global leader in digital payments, has announced the launch of
PayPal.Me for Business, a simple, fast, and personal way for freelancers, casual and social sellers, and B2B sellers to request money from anyone across the globe with a PayPal account, and get paid with a few clicks.PayPal.Me is the latest feature from PayPal to support the growth of social commerce globally, and supports one of PayPal’s core visions that is to offer a secure and more convenient ways for people to send and manage money online.
Platform for Thai merchants to transact directly on social media
Thailand’s social media has become an important sales platform for independent retailers. More retailers are now bypassing the traditional shop front and moving straight into social media to conduct their sales. An example of such a merchant in Thailand would be Panicloset, which has seen business grow rapidly in the past three years since its launch. The online fashion retailer has garnered a huge global fan base, with approximately 1.6 million fans on Facebook alone, and looks to grow even more rapidly in years to come.
Consulting firm Bain & Co. estimates that roughly 30 percent of digital sales in the Southeast Asia region took place via a social network
[1], and the trend looks to be moving in the positive direction. However, despite the popularity of social commerce, independent retailers are still concerned with the sluggish transaction process, as most transactions start on one social network, and finish on another entirely different platform. With more social media platforms launching new tools that support e-commerce, there is a need for Thai merchants to adopt a global payment partner who can enable them to transact easily via the social media platforms.
Paying with PayPal.Me for Business
With PayPal.Me for Business, independent retailers and merchants will no longer need to send a manual payment request or bank account number. The merchants can set up their own user profiles associated with a personalized URL to receive international or cross-border commercial payments with their existing PayPal account. The personalized unique transfer link is instant and works on any device, via a text message, email, instant messenger, social media post, blog, or on the web. The link even allows the merchant to add a specific amount to the end of the URL, e.g.
http://www.paypal.me/XYZClothing/USD25. It is also a great way for customers to remember the merchant’s brand as the link leads the customers to a customized branded PayPal payments page.
“The rise of eCommerce and increased penetration of mobile devices is transforming the face and form of retail, resulting in an increase in consumers making a purchase via a social media platform. At PayPal, we are focused on enabling digital payments in a safer and more secure environment. PayPal.Me for Business offers a quicker and on-the-go facility for merchants to receive payments, be it on LINE, Facebook Messenger or any instant messenger or social media platform. This allows Thai merchants to fully embrace the potential of social commerce as we are providing them with a more direct way of transaction on those platforms,” said Somwang Luangphaiboonsri, Country Lead for PayPal Thailand.
PayPal.Me for Business will allow freelancers and merchants to accept international payments from over 200 million consumers in more than 100 currencies. It also allows for automatic fraud screening, real-time transaction monitoring and robust protection policies.