PayPal Is Confident About China
EBay Inc. Chief Executive John Donahoe said China has become one of the fastest-growing markets for the company’s PayPal business, with total transactions from Greater China through the online-payment system rising 88 percent in the first half.
In an interview Thursday, Mr. Donahoe said PayPal processed more than $2 billion in transactions to Greater China in the first half of this year, the bulk of which was tied to transactions between Chinese merchants and overseas buyers.
PayPal, which Mr. Donahoe says may become eBay’s largest business in three to five years, has been expanding quickly in China. The online-payment system, which is 35 percent of eBay’s global business, has even teamed up with Alibaba Group, long known as an arch-rival in China, to provide payment services through the online wholesale platform AliExpress.