Payment Solutions
Consumer payment preferences vary significantly by market. Integrating the right payment methods can meaningfully improve checkout conversion rates.
Primary Payment Methods
Credit / Debit Cards
The dominant payment method in Western markets; Visa and Mastercard offer the broadest global coverage.
Recommended Solutions: Stripe, PayPal, Shopify Payments
PayPal
Over 400 million users globally; highly trusted by buyers in the US and Europe. Seller fees are approximately 2.9% plus a fixed transaction fee. Note that PayPal's buyer protection policy can expose sellers to dispute and chargeback risk.
Local Wallets (Southeast Asia)
| Market | Dominant Payment Methods |
|---|---|
| Thailand | PromptPay, TrueMoney |
| Indonesia | GoPay, OVO, Dana |
| Malaysia | Touch 'n Go, FPX |
| Vietnam | MoMo, ZaloPay |
| Philippines | GCash, Maya |
Buy Now, Pay Later (BNPL)
Services such as Afterpay, Klarna, and Atome are growing rapidly among younger consumers in both Western markets and Southeast Asia. Offering BNPL options can increase average order value.
Receiving Payment: Recommended Accounts
Cross-border sellers are advised to set up the following accounts to minimize currency conversion losses:
- Wise (formerly TransferWise): Multi-currency receiving accounts with exchange rates that closely track the mid-market rate
- Payoneer: Official partner of Amazon, Shopee, Lazada, and other major platforms; widely used for marketplace payouts
- Hong Kong Bank Account: Institutions such as HSBC and Standard Chartered; suitable for businesses with sustained, high-volume cross-border operations
Managing Exchange Rate Risk
- Convert foreign currency to your home currency regularly to avoid overexposure to any single currency
- Consider forward exchange contracts to lock in rates (recommended for high-volume sellers)
- Build a 3–5% currency buffer into your product pricing to absorb fluctuation
Note
Payment regulations differ by country. Before offering payment services in specific markets, confirm whether a local financial regulatory license is required.