PayPal is launching a new payment system in Thailand, in order to focus on the social commerce market. The service, called Paypal.ME, is slated to be launched in the country in just over one week, and will give users more convenience when attempting online transactions. Fees for the use of the new payment system will vary depending on transaction volumes. Aimed at both sellers and buyers, PayPal has targeted the Thai market due to its high growth in social commerce on both Facebook and Instagram. A PayPal survey found that 71% of Thai businesses offer a payment service on smartphones, whilst Singapore and Malaysia fall behind with around 50% each.