Influential Factors Affecting Payment Processing through Payment Gateways in the E-Marketplace Business Sector in Thailand

Abstract

      The e-marketplace business sector in Thailand has undergone remarkable growth in recent years, presenting a dynamic landscape that integrates digital technologies, commerce, and financial transactions. Financial transactions become the important process that people and businesses choose for making more efficiency and more safe. Central to the functioning of this sector are payment gateways, which serve as the critical bridge connecting consumers and businesses in an increasingly digitised economy. Referring to Bank of Thailand information, they found that E-wallet is still the most popular payment which corresponds to Digital Global Review Repoty’s information and they found that the most popular transections in financial payment is Food Delivery and E-commerce.This study investigates the key determinants affecting payment processes within the e-marketplace sector in Thailand. Employing a quantitative research approach, data was collected from 405 Thai respondents who had engaged in payment transactions through e-marketplace payment gateways. Data analysis incorporated various statistical measures, such as percentages, means, standard deviations, and binary logistic regression for hypothesis testing. The study’s findings revealed that technology acceptance and trust significantly impact payment gateways in the Thai e-marketplace sector. This study also finds the most popular payment gateway is E-wallet which corresponds to Digital Global Review Repoty’s information and Bank of Thailand information. These findings carry profound implications for both businesses and policymakers. Businesses operating within the e-marketplace sector can utilise this knowledge to enhance customer attraction and retention, optimise payment gateway functionalities, and improve trust and satisfaction levels. For policymakers, these insights can inform the development of regulatory frameworks conducive to the sector's growth and sustainability, as well as financial inclusion initiatives.