Receiving Online Payments

[mooro_uk]

I have a small online business and very soon I will need a system to be able to receive online payments from credit cards and Paypal.

So far my research has led me to two potential merchant systems: 1. A Paypal Business Account - transaction fee 3.4%

2. A Thaiepay account - transaction fee 4%

Does anyone have any actual experience of using these set ups to receive online payments and if so how did you find them? I am thinking the Paypal setup would be better as then I can accept payment from customers with Paypal accounts as well as those without but who have a credit card.

Any information would be much appreciated!

Thanks in advance.

[tombkk]

Paypal seems to be reasonable, but kindly note that you need a work permit if you conduct this business in Thailand.

[danbradster]

I pay 2.4% + $0.30 with Paypal. Paypal makes it really easy compared to setting up payment processing through a bank. Paypal can be up and working in 1 day if you know how to integrate it.

The Paypal commission can fall too, when you surpass $5000 per month revenue and further higher benchmarks.

[mooro_uk]

Paypal seems to be reasonable, but kindly note that you need a work permit if you conduct this business in Thailand.

Thanks for your reply Tom and yes I and all my associates have work permits. (Not sure of the relevance to my OP though!)

I pay 2.4% + $0.30 with Paypal. Paypal makes it really easy compared to setting up payment processing through a bank. Paypal can be up and working in 1 day if you know how to integrate it.

The Paypal commission can fall too, when you surpass $5000 per month revenue and further higher benchmarks.

Thanks for the info regarding Payapl Dan. I'm thinking this is still our best option. Does anyone have any experience in using Thaiepay??

[monty]

Not sure now, but with paypal the problem used to be when transferring funds into your Thai bank account.

The exchange rates used (US$ to B or € to Baht) was horrible, resulting in a defacto much higher cost.

Unless one can now charge directly in Baht (making the exchange the customer's problem).

[monty]

Used Thaiepay before and no worries, apart from the fact that in the old days customers had to register with them first.

Now they can do direct payments, but a lot more required on the part from the merchant to set that up (compnay papers etc).

[mooro_uk]

Not sure now, but with paypal the problem used to be when transferring funds into your Thai bank account.

The exchange rates used (US$ to B or € to Baht) was horrible, resulting in a defacto much higher cost.

Unless one can now charge directly in Baht (making the exchange the customer's problem).

Hi Monty and many thanks for your input. I have heard that the exchange rates with Paypal are not particularly good at the best of times too! If I had for example a payment from a Japanese customer for 39,000 Yen (approx $500), would I be likely to be getting more "value for my money" (after fees and exchange rate has been done into Thai Baht) with Paypal or Thaiepay?

[Valjean]

The way PalPay works is that you have to transfer funds out in your local currency. So if you have a PP Thailand account, you can accept any currency, but you must transfer to a Thai bank, into baht. You could be in Thailand and have a PP US account and charge dollars and transfer to a US account in USD. In my experience every country works the same.

PP is good - just watch the currency. Maybe it's just a cost of doing business. But be aware and think the best way to set it up.