PayPal and China UnionPay Partner to Have CUP Cards Accepted Online Beyond China

by Mercator Advisory Group 0

PayPal has officially started to offer cross-boarder online payment services to Chinese consumers to allow them to make online purchases from overseas.

Mainland China holders of credit or debit cards that use China UnionPay’s bank-card payment network can currently make payments to merchants in Taiwan and Hong Kong, Irani said. They will be able to make payments to the U.S. in the second quarter and to Europe three months later, he said.

Irani, speaking in an interview, also said PayPal will apply for a license in China to provide domestic payment services.

Paypal has been in China’s online payment market for some time but has limited success so far in the domestic market. Read the original article here: http://www.totaltele.com/view.aspx?ID=462610

Last December it also announced that it signed an agreement with the municipal government of Chonqging City to build an ecommerce hub in the largest industrial and commercial center in Southwest China (https://www.thepaypalblog.com/2010/12/paypal-and-chongqing-government-partner-on-international-ecommerce-to-support-chinese-merchants/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+ThePayPalBlog+(The+PayPal+Blog )