SINGAPORE, Aug. 10, 2021 /PRNewswire/ -- Today, Rapyd rolled out PromptPay on the Google Play Store, enabling Thailand's national payment method to support app downloads and in-app purchases for games, music, movies, video streaming, books, magazines, and other content purchases from Google Play Store. Rapyd, a global Fintech as a Service platform supports local payments for Google in Thailand through its collaboration with GB Prime Pay, a leading Thai payment solution provider.
Launched in 2017, PromptPay is one of the most commonly used payment methods in Thailand. It allows its users to make real-time interbank mobile payments or transfer funds by linking the user's bank account to the mobile number or national ID. As of September 2020, PromptPay reported 55.1 million registrants (out of a population of 69 million), with 20 million transactions a day. According to the Rapyd Asia Pacific eCommerce and Payments Report 2020, it was used by 37% of respondents at least once in the past month.
Google Play offers Android users and content creators a premium store with compelling content. In the Google Play store, users can find, enjoy and share their favourite digital content, managed on the cloud and available on any device. As Play continues to grow, more developers than ever are building successful businesses on Google, reaching new audiences and growing their revenue. The full range of premium content available in Google Play in Thailand will support PromptPay payments starting from August 2021.
"With the continued growth in mobile smartphone payments in Thailand, we are excited to support Google in rolling out PromptPay acceptance on Google Play Thailand. Google is known for always putting consumers front and center, and for driving innovation through convenience and superior technology. We believe Thai consumers will appreciate the ease of buying their favourite digital products on Google Play with PromptPay," said Joel Yarbrough, Vice President for Asia Pacific, Rapyd.
Thailand is one of the focus markets for Rapyd in Asia. The company recently launched its 'all-in-one' payment capabilities in this market. By partnering with leading Thai payment solution providers including GB Prime Pay, Rapyd now provides local payment options like international and local cards, bank transfers, eWallets and also cash over the counter.
About Rapyd
Rapyd is the fastest way to power local payments anywhere in the world, enabling companies across the globe to access markets quicker than ever before. By utilizing Rapyd's unparalleled payments network and fintech as a service platform, businesses and consumers can engage in local and cross-border transactions in any market. The Rapyd platform is unifying fragmented payment systems worldwide by bringing together 900-plus payment methods in over 100 countries. Rapyd's investors include Stripe, General Catalyst, Oak HC/FT, Coatue, Tiger Global, Durable Capital, Target Global, Fidelity Management and Research Company, Altimeter Capital, BlackRock Funds and Tal Capital. To learn more about the company that is accelerating the fintech as a service revolution, visit www.rapyd.net, read our blog, or follow us on LinkedIn and Twitter.
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