THE PAVILIONS PHUKET BRITISH INTERNATIONAL SCHOOL, PHUKET
THE PAVILIONS PHUKET BRITISH INTERNATIONAL SCHOOL, PHUKET Kata Rocks
The Phuket News Novosti Phuket Khao Phuket

Login | Create Account | Search


Keep up with the online payment revolution, urges expert

Keep up with the online payment revolution, urges expert

PHUKET: A leading figure in global online payments systems has urged Phuket businesses to keep pace with the rapid changes unfolding in the online payments sector to ensure they don’t miss opportunities or access to key markets simply because of the ability or convenience to pay.

tourismtechnologyeconomics
By Chris Husted

Saturday 1 June 2019, 11:30AM


Dwight Willis speaks at the AustCham event last Friday (May 24). Photo: Courtesy of AustCham

Dwight Willis speaks at the AustCham event last Friday (May 24). Photo: Courtesy of AustCham

The message came from Dwight Willis, the head of the Australian-Thai Chamber of Commerce (AustCham) Digital IT & Innovation Committee, during a business briefing held before the AustCham Phuket Sundowners at Le Méridien Phuket last Friday (May 24).

Mr Willis is CEO of DollarSmart Global, a global online money transfer company with offices in Singapore, Hong Kong and Australia.

“The most important things to know is that international payments in the tourism industry are rapidly changing,” Mr Willis told The Phuket News.

“Make sure you know your customer base, where they come and what is their preferred payment channel,” he added.

“The next step is to approach your local Thai financial institution and find one that covers these key channels,” Mr Willis urged.

Mr Willis was in Phuket to relay the findings from a panel discussion held in Bangkok Wednesday last week (May 22) on “Leveraging new and emerging Payment methods in your business”.

The focus of the session in Bangkok was specifically on revenue opportunities as well as transactional cost savings to improve profit, for small and large hotel operators alike, using established global payment/banking institutions including Paypal, TicketMelon, Dollarsmart, Visa and Agoda.

In Phuket, Mr Willis updated AustCham members on developments in innovative payments methods for the hotel and tourism industry on the island.

“The interactive session with the AustCham members provided a great opportunity for the members to discuss their payments issues and what solutions are available to meet their needs,” noted AustCham Executive Director Brendan Cunningham.

Of his key point “Know your customers and where they come from,” Mr Willis explained, “There are multiple different payment channels developing in different countries and different tourists will bring with them needs to make payments through these different channels.”

Citing as examples, Mr Willis elaborated, “[There is] PayTM for Indian customers, Wechat and AliPay for Chinese inbound tourism market and Paypal/Visa for Europeans, Australians, US and some parts of Asia.

“The customer data is all important. Your payment partners should be able to provide you with spending data to augment your data and understand how to get more of the customer spend in Phuket,” he added.

Mr Willis also highlighted how different banks offer different online systems, and the need to identify which ones offer the types of services best suited for each business.

“Thai banks have lots of different payment solutions that can help you connect to automated payment systems. You need to find the right expert in the bank to discuss your requirements and find the right solutions,” Mr Willis said.

“Also important is to negotiate hard on costs and compare bank offerings for most cost-effective option,” he added.

Collections of payments and making payment to suppliers was an important topic to the members.

To this Mr Willis mentioned a few new solutions, such as QR payments and online credit card gateways, that can help members receive monies online from their customers.


The next AustCham event in Phuket will be held at the Banyan Tree Phuket on Friday, July 12. Visit ThePhuketNews.com or AustChamThailand.com for details.

 

Comment on this story

* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.

CAPTCHA

Be the first to comment.

Have a news tip-off? Click here

 

Phuket community
Pickup truck u-turn leaves Myanmar mother dead, partner and son in ICU

so there were 3 people on the motorbike (illegal) 2 people without helmets(illegal) they should also...(Read More)


Phuket gets a new mascot

Well, that's a worthwhile spend of B130k!...(Read More)


Phuket Immigration clarifies TM28, 24-hour reporting ‘exceptions’

Retirees and spouses to be harassed on a scale comparable to a sex offender. [sighs] So is there a ...(Read More)


Pickup truck u-turn leaves Myanmar mother dead, partner and son in ICU

Is well on time and build concrete dividers on all roads in Phuket....(Read More)


Phuket Immigration clarifies TM28, 24-hour reporting ‘exceptions’

Except on same webpage below the graphic in thai it says all foriegners are now not required to repo...(Read More)


Thai Navy seize IUU boat off Phuket

Nothing, illegal, unregulated with registered Uthaiwan. Vessel built in NL, 1977. Imo Nr: 7637527. ...(Read More)


Phuket Immigration clarifies TM28, 24-hour reporting ‘exceptions’

So this is the latest ambiguous statement of nonsensical BS to come out of Immigration in the past w...(Read More)


Mice tourism development in Phuket held back by regulations

A convention/exhibition Hall? How about first making Chalong hospital operational? As we experience...(Read More)


Mice tourism development in Phuket held back by regulations

Hahaha, that Patong tunnel thing is always popping up fun during such chats. Small Chalong underpass...(Read More)


Phuket Immigration clarifies TM28, 24-hour reporting ‘exceptions’

The new rule will make that owners of properties even feel more reluctant/not bother to report with ...(Read More)