Thailand Payment Gateway / Internet Merchant Account

[yasmin2007]

Sawadee All!

Having lived in Thailand for 10 years and operated and owned a co., ltd. company which has been established for more than 4 years I have found it very difficult to find a bank which will accept us as an internet merchant. We're in the travel industry and have the required e-commerce license, tat license, vat registration etc. etc.

We applied with KBANK where we also use BIZNET, which is far superior to other banks. However, once we had submitted all documents to a local branch - and believe me this was a big job as they had no idea what was required and kept asking us to come back with more paperwork - we finally got approval, however, we had to deposit 1 million THB in a fixed account + pay a hefty 5% fee per transaction. When I enquired about these figures I was basically told that it was because there was a "farang" involved in the company even though the majority is on Thai hands. Amazing.

Have anyone had any luck or recommendations regarding other banks, such as Krungsri, Bangkok Bank or Krungthai Bank? I find it absolutely amazing that none of the large banks make it easier - afterall there is a lof easy money in there for them also.

So now we are currently using THAIEPAY but are also considering a new service which actually uses KBANK called Siampay (you can google it). Does anyone know Siampay - they seem quite new - but their system seems to be superior to THAIEPAY's and also cheaper.

Finally, if anyone could give advice on how to re-approach KBANK for more favourable numbers that would be great.

Thanks in advanced

YASMIN

[rainman]

Why not use www.2checkout.com ?

[OxfordWill]

Many thai based internet startups use KBANK, I cannot believe they all have the funds to put 1mTHB in the account. You should get a Thai person to set one up- maybe even under a new company name (cheaper than 5%+capitalisation with the bank!)

[seykota]

Why not use www.2checkout.com?

Their fee structure for a start.....

Signup/Account Establishment Fee:

There is a one-time set-up fee of $49.

Transaction Fees:

2CO applies a 5.5% commission on each transaction, plus a $0.45 charge per transaction.

Edited July 5, 2007 by seykota

[yasmin2007]

2checkout do not allow travel related businesses.

[daisygrl]

2checkout do not allow travel related businesses.

You might want to try another credit card processor. Try searching google.com or whitepages.com for a merchant processor to locate one a company that will allow travel realted businesses. If you need help let me know.

[Soboringtochooseaname]

Hi,

Can you tell us more about your experience with ThaiEpay or others gateways ?

Thanks.