Business
        

Technology

PayPal to end partnership with Alibaba

Updated: 2011-06-07 17:08

By Hao Yan (chinadaily.com.cn)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

EBay Inc's PayPal online payment system will end a partnership with Alibaba Group's Aliexpress.com beginning Aug 3, Shanghai Securities News reported Tuesday.

Related readings:
PayPal to end partnership with Alibaba Alibaba's Ma advises Yahoo: break up
PayPal to end partnership with Alibaba Yahoo, Alibaba reach deal over Alipay
PayPal to end partnership with Alibaba Alipay snatches online payment crown from PayPal
PayPal to end partnership with Alibaba 
EBay's Paypal to set up int'l E-Commerce hub in Chongqing

Aliexpress.com, an international wholesale platform for China's domestic vendors to supply small orders to foreign buyers, started its partnership with PayPal in April 2010 to use PayPal as one of its international online payment methods.

Aliexpress.com's rapid global development might affect eBay's business in China, so sources told the newspaper that PayPal might choose a new partner.

PayPal raised the charging rate to 7 percent earlier this year for Alibaba's Aliexpress users, sources said. The rate is twice of that published on PayPal's website.

Alibaba's official in charge of payment cooperation said Aliexpress will continue offering various safe payment methods. Aliexpress now accepts PayPal, Visa and MasterCard credit cards, and Moneybookers.

E-paper

Pret-a-design

China is taking bigger strides to become a force in fashion.

Lasting Spirit
Running with the Beijingers
A twist in the tale

European Edition

Specials

My China story

Foreign readers are invited to share your China stories.

Mom’s the word

Italian expat struggles with learning English and experiences the joys of motherhood again.

Lenovo's challenge

Computer maker takes on iconic brand apple with range of stylish, popular products

Vice-President visits Italy
Sky is the limit
Quest for green growth