world line [Euronext: WLN], a global leader in payments services, has strengthened its presence in Asia's fast-growing e-commerce market, announcing a new strategic partnership with Opn, Southeast Asia's leading payments company. The two companies will launch a joint solution to help international online companies enter Thailand's rapidly expanding e-commerce market, currently ranked 19th in the world.
With a population of 70 million and a GDP of $574 billion, Thailand ranks as Southeast Asia's second-largest economy and e-commerce market. According to official statistics from the Thai government, Thailand's e-commerce revenue is expected to reach $23.4 billion in 2022 and increase to $34 billion by 2025, an increase of 45%. Similarly, the number of e-commerce users is expected to increase from 41.2 million in 2023 to 45.8 million in 2027. Increased use of the internet and mobile phones, improvements in logistics and electronic payment systems are believed to be behind this. Remarkable growth.
The partnership will leverage Worldline's global payments expertise and Opn's local market knowledge to help e-commerce companies make the most of the opportunities in this fast-growing e-commerce market. This joint solution enables businesses to improve approval rates, reduce cross-border payment costs, and improve local Helps you reach consumers. Worldline and Opn offer access to popular domestic and international cards and a leading alternative payment method, Bank of Thailand's PromptPay. This solution minimizes time to market while ensuring the highest level of payment security and compliance, as all card transactions meet PCI DSS and 3-D Secure standards.
Guillaume Tournand, Head of Growth at Worldline Merchant Services, commented: “We are delighted with this strategic partnership with Opn. Our joint solution will remove the friction of cross-border payments, improve approval rates, reduce costs and accelerate time to market. We are excited to help businesses make the most of Thailand's e-commerce growth potential.”
Ezra Don Hallinsut, co-founder and president of Opn, added: “We are very pleased to work with a highly regarded payment solutions provider like Worldline to help e-commerce businesses achieve their strategic goals in the exciting Thai market. Our joint e-commerce proposition This allows us to provide seamless solutions to our customers and ensure maximum satisfaction.”
A complete list of the main benefits of Worldline's e-commerce solutions for Thailand can be found here. The solution is expected to go live at the end of his second quarter of 2024 and is currently being piloted with two luxury hospitality clients.
Worldline's online payment solutions provide global e-commerce businesses with easy access to over 150 online payment methods and a wide range of currency options with local access in multiple high-growth markets worldwide, including Turkey, South Korea and Brazil. Offers. These markets have great growth potential for international business.
