Food
PayPal, a global leader in digital payments, has appointed Somwang Luangphaiboonsri as Country Lead of its Thailand subsidiary.
As Country Lead, Mr. Somwang will be responsible for assisting PayPal to capitalize on the explosive growth of cross-border e-commerce in the Thai market. Together with the newly-established PayPal Thailand team, Mr. Somwang will also be focused on educating Thai merchants on the growth opportunities available in the global e-commerce marketplace.
Rahul Shinghal, General Manager for PayPal Southeast Asia said, “I am pleased to announce Somwang’s appointment as the Country Lead for the Thailand office. Somwang has been instrumental in many of our partnership dealings with Thai merchants, including Thai Airways. I am excited to see the growth of our offerings to customers in the market.”
Having spent more than 16 years in the finance and technology industries, Mr. Somwang is a veteran in the e-commerce space. Prior to joining PayPal, Mr. Somwang co-founded a domestic online payment service provider and built the company to be the platform of choice for many Thai consumers. He is well-entrenched in the Thai payments scene, and is also a secretary of the Thai E-Commerce Association and the secretary of Thailand ePayment and eMoney Association.
“Fintech is a hot topic right now and Thai businesses will need guidance to help them navigate through the fast-changing payment innovations in order to tap on the consumer growth opportunity. I am looking forward to PayPal introducing new solutions for its Thai merchant partners for their evolving customer needs and building PayPal’s presence in Thailand,” said Mr. Somwang.
The appointment of Mr. Somwang is just one of the latest steps taken by the digital payments company to reinforce its position in Thailand this year. PayPal has been actively building its merchant portfolio to enable Thai businesses to have access to a seamless cross-border payment experience. In August 2016, an MoU was signed with the Department of International Trade Promotion (DITP) to promote and facilitate cross-border trade for Thailand’s small and medium sized businesses. PayPal also onboarded leading travel businesses including Centara Hotels & Resorts, Centre Point Hotels Group, and Thai Airways as merchant partners that same month, being the sole payment provider for their cross-border online payments.
