eBay's PayPal plan to enter the online payment market in China and India. This is one of the major initiatives was taken to PayPal in the Asian region.
Businesses in India and China are currently using the PayPal service for overseas cross-border payments. However, PayPal online payment services provided the service these two internal countries.
PayPal spokesman Dickson Seow said on Monday that we are currently in China to apply for domestic pay license and apply for this license will be in India. He added that the company is unclear what time able to obtain a license.
These two markets were in China and India, China has a greater online market. According to the China Internet Network Information Center, China has had 193 million users of electronic commerce.
In China, PayPal may had the fierce competition with the Chinese e-commerce giant Alipay of Alibaba. Alibaba and eBay have been launched in the C2C e-commerce competition in China joint ventures.
According to Analysys International data show that, Alipay accounts for China's online third party payment market share is 46.9%. In the fourth quarter of 2011, the total transaction amount of third-party payment market in China reached 738.6 billion yuan.
Analysys International analyst Zhang Meng said the Internet if PayPal focus on China's online payment market, the competition is very fierce.
However, the PayPal payment service license provided by the Chinese government that will also face difficulties. The Chinese government requires all online payment service, non-financial institutions must be Chinese-owned companies, including Alibaba, Yahoo Japan, Softbank shareholders are forced to PayPal stripping as an independent company. The Paypal service company had enter into the China market will face the big challenge in the E-commerce, the new concept of the payment we will use in some days. And we hope the new payment service will have the good beginning, and the India will be the large market for the payment service.
Businesses in India and China are currently using the PayPal service for overseas cross-border payments. However, PayPal online payment services provided the service these two internal countries.
PayPal spokesman Dickson Seow said on Monday that we are currently in China to apply for domestic pay license and apply for this license will be in India. He added that the company is unclear what time able to obtain a license.
These two markets were in China and India, China has a greater online market. According to the China Internet Network Information Center, China has had 193 million users of electronic commerce.
In China, PayPal may had the fierce competition with the Chinese e-commerce giant Alipay of Alibaba. Alibaba and eBay have been launched in the C2C e-commerce competition in China joint ventures.
According to Analysys International data show that, Alipay accounts for China's online third party payment market share is 46.9%. In the fourth quarter of 2011, the total transaction amount of third-party payment market in China reached 738.6 billion yuan.
Analysys International analyst Zhang Meng said the Internet if PayPal focus on China's online payment market, the competition is very fierce.
However, the PayPal payment service license provided by the Chinese government that will also face difficulties. The Chinese government requires all online payment service, non-financial institutions must be Chinese-owned companies, including Alibaba, Yahoo Japan, Softbank shareholders are forced to PayPal stripping as an independent company. The Paypal service company had enter into the China market will face the big challenge in the E-commerce, the new concept of the payment we will use in some days. And we hope the new payment service will have the good beginning, and the India will be the large market for the payment service.
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