Selecting payment options for e-commerce business in Thailand.

Abstract

Online shopping or e-Commerce has seen rapid growth globally; including in Thailand. However the rate of growth in Thailand is slow, and lagging behind the world. The author speculates one of the major reason for this is partly due to the payment system. The major payment system currently dominated the market is through bank transfer. Which the author find to be low in productivity and offer inconvenience to the customers. With the stated issue; the objective of this paper is to explore the suitable payment methods for Thai online market. Also the possibilities of implementing them into real use. The explored through understanding the factor behind the sellers and buyers preference when making payment decisions. The research methodology was through conducting in-depth interviews on both the sellers and buyers side to gain more understanding on their views regarding the subject. The buyers and sellers both agree on the preference of payment through bank transfer and e-Wallet services. The sellers prefer the bank transfer more than the e-Wallet; while the buyers prefer the e-Wallet more than the bank transfer. The author also suggested the use of collect of delivery as addition for market expansion purpose.

KEY WORDS: e-Commerce / Online Payment / Selecting / Thai / Preference