Ebay News Update: Ebay to Tackle China

Ebay Paypal China

Ebay News update: Ebay decide to take on China’s market for a second time. They are hoping to increase the usage of online payments through paypal.

Paypal For China’s Online Shoppers

Ebay is one of the largest and most successful online shops, which operates a consumer to consumer procedure. Ebay is now hoping to further extend their audience by making it possible for China to use Ebay’s online payment service through the vehicle of Paypal.

‘The firm is trying to get into a market that is dominated by local players. Google is the second most used search engine in China after Baidu, and most of China’s 1.35 billion people prefer to shop with Chinese merchants.

According to Reuters, eBay has had some good news, and reckons that it will be the first US firm to pop a bottle of celebratory champagne in the glorious People’s Republic of China.

So far eBay CEO John Donahoe is predicting that China will accept Paypal, and he spoke of the likelihood during a Reuters technology summit in San Francisco.

“I am confident that Paypal will be the first non-domestic company to get a payments licence in China. That could be in three months or five years,” he said, vaguely hedging his bet.

“The evidence would suggest that a non-Chinese company is at a disadvantage. We have chosen not to compete aggressively. Over time you’ll see the Chinese domestic economy try to connect with the global one.”

eBay launched in China almost a decade ago, but pulled out in 2006. This was despite buying into a Chinese partner and plunging a lot of money into marketing. It still does business in the country that’s worth around $6bn, though.

While he was at the technology summit Donahoe was asked about PRISM snooping in the US. He said that there is some balancing of interests that must take place.

“It’s appropriate for us to have a bit of a national dialogue and debate on privacy and on cybersecurity. And just so that what sometimes goes unspoken gets spoken,” he said.

“We’re trying to make sure that all of our privacy policies and how we comply stand up to the spotlight. As the digital world becomes more of our everyday lives, there will be more opportunity and need for more of a dialogue.”

As Google is the second largest search engine in China, Ebay are hoping that the Chinese market should be quite easy to Breach. The only real issue they are going to have to make sure they overcome is that China’s population trust Ebay as they generally would opt buying from Chinese Merchants

Original article found at http://www.theinquirer.net

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