PayPal Thailand back this year for those with Thai ID Cards
PayPal announced its service will be up and operational in Thailand this year under its registered company name PayPal Thailand.
To use the service, current users would be required to verify their identities via the Thai National Digital ID platform, and this process requires a Thai national ID card. Obviously this is a problem for foreigners.
PayPal made some changes in the company service to comply with the Thai financial regulations after Thai authorities asked PayPal users to verify their identities to prevent money laundering.
The Blognone website reported that they had sent an email to PayPal to ask about the changes. The US multinational company replied that PayPal used to be operated through its Singaporean agency, but the new services would be operated under the registered company PayPal Thailand.
The current accounts would be transferred to operate under the registered company within this year.
During the transferring stage, the current PayPal users, including consumers, freelancers, casual sellers, and registered businesses, would be able to use the accounts to purchase with their PayPal wallets, send money, and receive money as usual.
The current users with entrepreneur or sole proprietor accounts, that were opened before March 7 last year, can use the accounts as usual too.
For the accounts opened after the date, the company has already sent an email for further assistance.
The company added that the users must verify their identities via the NDID platform as soon as possible before the company transfers the accounts in October this year.
NDID is a Thai platform for digital user identity authentication, and it would require Thai national ID cards. Users who have Thai ID cards can register via Thai mobile banking applications or process it at their branches.
Companies and foreigners with a business account of companies registered in Thailand, which had 13 digit taxpayer identification numbers, would be able to purchase, accept money, and withdraw money from a PayPal wallet and transfer it to a bank account.
SOURCE: Blognone | The Matter | Workpoint Today | Amarin TV
