to Accept PayPal Payments

May 3, 2010 

Chinese e-commerce site operator Ltd. said recently it will start offering PayPal, the online payment system owned by competitor eBay Inc., for use on its new wholesale site, AliExpress. said the deal will help customers by making it speedy, safe and simple to make payments on AliExpress. The AliExpress site was rolled out in a “beta” testing mode in September and was officially launched Sunday. Separately, Alibaba Group, the Website’s parent company, announced it will invest $732 million into its subsidiary Alipay to fund growth. The cash infusion will be used by the Chinese e-payment engine to enhance infrastructure security, improve the customer experience, grow the number of accounts, build a comprehensive network of merchants and retain and attract new top-tier talent from the payments industry. “Online payment will continue to play an ever-growing and significant role in the development of e-commerce as well as the stimulation of consumer demand,” said Lucy Peng, chief executive of Alipay and chief people officer of Alibaba Group, in a statement. “Consumers expect a safe, convenient and affordable globalised payment platform.”