The company said its new service, called PayPal China, will integrate with 15 Chinese banks and over 20 different debit cards.
The service will also offer payments in the local currency as well as a buyer protection program for purchases made on internet portal sites Netease and Tom Online. PayPal intends to provide buyer protection on China’s eCommerce marketplace, eBay EachNet, on September 1, 2005.
PayPal China is an extremely efficient online payment network that will improve the payment experience and increase the velocity of ecommerce in China, said Mathias Entenmann, vice president of PayPal International.
PayPal China joins Australia, Austria, Belgium, Canada, France, Italy, Germany, the Netherlands, Spain, Switzerland and the UK as PayPal continues to expand its international presence.
