Are you excited to start your online business in Thailand? Well, for this, you need a suitable payment gateway Thailand.

Thailand is renowned for its natural beauty and tourism, but another factor currently puts this nation in the spotlight. This cause is solely due to Thailand’s expanding online industry. Online shopping is well-known to be popular in Thailand.

As the COVID-19 epidemic draws close, the rising tendency to use digital payments is anticipated to persist long after the pandemic stops. In Thailand, Statista reports says that the total value of transactions in the digital payments sector reached USD 15,927 million in 2021 and is anticipated to rise at a projected pace of 10.9 percent per year (CAGR 2021–2025), reaching a projected total of USD 24,127 million in 2025.

A significant factor in the success of online retailers among consumers in Thailand is the choice of payment service providers. Customers must finish their purchases for online shopping, when the payment is completed, and to do so, each merchant needs a reliable payment gateway Thailand.

Here, this blog will discuss payment gateway Thailand’s and how it works. So, let’s start with the definition of a payment gateway Thailand.

A payment gateway is a merchant’s technology to accept credit or debit card payments. In other words, a payment gateway is a network through which customers transfer funds to the merchant in exchange for goods and services.

When using a payment gateway Thailand, customers and businesses must work together to execute a transaction. The primary duties of the payment gateway Thailand are to confirm the cardholder’s information and determine whether or not there are sufficient funds in the customer’s account.

How Payment Gateway Thailand Works?
Before we move to the actual process of the payment gateway Thailand, you need to understand the key entities of the payment gateway.

Merchant Account:
Businesses keep their receivables funds in a merchant account, which is a separate bank account. The payment from your consumer is initially sent to your merchant account, where it remains until you transfer it to your company’s regular bank account. You must have a payment gateway and a merchant account to accept payments online.