PayPal & Chinese Site
June 3, 2011 by staff
PayPal & Chinese Site, Online payment unit of eBay, PayPal, will end its partnership AliExpress years, the website selling wholesale Alibaba.com, since early August, PayPal said on Friday. “PayPal continues to be deeply committed to China by Chinese traders access to a more secure and easier to sell to millions of our users around the world. And our business is strong,” said Dickson Seow, director of communications for Asia PayPal and the Pacific, PayPal Blog.
PayPal said its total payment volume in China and more than 4.4 billion in 2010, up 44 percent from a year ago.
Alibaba.com is a unit of Alibaba Group, which is about 40 percent owned by Yahoo Inc.
Both parties decided to end their association provided no reason, but a document obtained by Reuters showed that PayPal was not happy with the growing consumer AliExpress companies on the platform, which is for trading, and wanted to raise rates settlement of certain accounts.
“AliExpress is committed to serving our clients a range of payment options,” said Sabrina Peng, vice president of Alibaba.com, said in a statement.
EBay competes with Alibaba Group, Alibaba.com and Taobao in China’s space commerce.
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