Alibaba open to working with PayPal: Bloomberg
Reuters
Published Nov 11, 2014 07:31PM ET
Alibaba open to working with PayPal: Bloomberg
(Reuters) - Alibaba Group Holding Ltd is open to working with eBay Inc's PayPal to expand its payment options, Bloomberg reported, citing an interview with the Chinese e-commerce company's vice chairman.
"If you look at our footprint of being the largest online payment company in China, and PayPal's position of having a very good international position, not just in the U.S. but also in some other countries, these are some complementary footprints," Joseph Tsai said Monday in Hangzhou, China. (http://bloom.bg/1xq2esD)
Alibaba reported more than $9 billion in sales on China's Singles' Day on Tuesday.
The company also sees Apple Inc's payment system as helping Chinese consumers when Alibaba's financial services arm, Alipay, is not accepted, Tsai said.
In September eBay said it would spin off PayPal into a publicly traded company in the second half of 2015.
Alibaba and eBay could not immediately be reached for comment.
(Reporting By Sai Sachin R in Bangalore; Editing by Steve Orlofsky)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.