China-US
PayPal to end partnership with Alibaba
Updated: 2011-06-07 17:08
By Hao Yan (chinadaily.com.cn)
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.
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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.
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