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Deals on PayPal set to soar 80%
By Ding Yining |
September 11, 2010, Saturday
|
Print Edition
Print Edition
THE volume of cross-border transactions generated by Chinese users through its PayPal online payment platform will soar about 80 percent to 4 billion yuan (US$591 million) this year, a top eBay official said.
The company will also stay focused on its Paypal service to connect Chinese sellers and consumers around the world, Chairman and Chief Executive Officer John Donahoe said at a forum discussion at Alibaba's 7th Entrepreneur Conference in Hangzhou yesterday.
Speaking at the same forum, Alibaba Group Chairman Jack Ma added that he didn't consider eBay "a competitor" but rather hopes to "work very closely with each other" to help small and medium-sized enterprises grow.
PayPal now has about 1 million users in China while Alipay, the online payment unit owned by Alibaba Group, has 300 million users.
Speaking on the Internet's future, Donahoe predicted over half of the total user base will access the Internet on mobile devices in three years.
"The future of the Internet lies in collaboration rather than competition and we can create opportunities with partnerships," Donahoe said.
The company will also stay focused on its Paypal service to connect Chinese sellers and consumers around the world, Chairman and Chief Executive Officer John Donahoe said at a forum discussion at Alibaba's 7th Entrepreneur Conference in Hangzhou yesterday.
Speaking at the same forum, Alibaba Group Chairman Jack Ma added that he didn't consider eBay "a competitor" but rather hopes to "work very closely with each other" to help small and medium-sized enterprises grow.
PayPal now has about 1 million users in China while Alipay, the online payment unit owned by Alibaba Group, has 300 million users.
Speaking on the Internet's future, Donahoe predicted over half of the total user base will access the Internet on mobile devices in three years.
"The future of the Internet lies in collaboration rather than competition and we can create opportunities with partnerships," Donahoe said.
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