China's Alibaba teams up with US PayPal

Passengers take a taxi adourned with the logo of e-commerce firm Alibaba in Hong Kong
Passengers take a taxi adourned with the logo of e-commerce firm Alibaba in Hong Kong. The company has said its new transaction platform would accept payments from users of US online payment service PayPal.

Chinese e-commerce firm Alibaba said Tuesday its new transaction platform would accept payments from users of US online payment service PayPal, amid efforts to expand overseas.

AliExpress allows small businesses to purchase products listed on the site in their preferred currency using PayPal, said in a statement.

PayPal, a subsidiary of US e-commerce giant , has more than 84 million active users around the world and allows payment in 24 currencies.

"Our work with companies such as is crucial because we want to make sure we are meeting the needs of our customers by making payment as fast, safe and easy as possible," said David Wei, chief executive of Alibaba.com, the Hong Kong-listed unit of Alibaba Group.

Suppliers of products listed on AliExpress are mainly Chinese, but Alibaba said it aims to open the site to international suppliers so buyers will "have a strong base of suppliers to choose from".

AliExpress was officially launched Monday but has been trialled since September.


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(c) 2010 AFP

Citation: China's Alibaba teams up with US PayPal (2010, April 27) retrieved 22 August 2019 from https://phys.org/news/2010-04-china-alibaba-teams-paypal.html
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Apr 28, 2010
Alibaba: What a name for a commercial enterprise! Any relation with the legendary Alibaba and the forty thieves?

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