Paypal And UnionPay Partnership In China
Paypal is expaning it’s chinesse coverage with teaming up with UnionPay. Unionpay is the the most used online credit card company in China which is mostly used for payments to USA and Europe. Till now chineese customers people used paypal for payments in chineese Ebay version. From now users from China can link their UnionPay bank accounts to Paypal. This is serious opportunity for businesses as they’ll
have more options with payments online and don’t have Visa or Mastercard they’ll be able to do business with merchants all over the World who accept paypal. The predicted online shoppers in china is estimated 300 million till 2013. China is huge and this is a big step from paypal. The most serious part using Paypal is their awesome built in exchange rate system which is easy to understand and use for regular people. This payment partnership will help chineese businesses to accept paypal more often in huge business portals like Made-In-China.com and Alibaba.com. This is good news for dropshipping companies too, from now on the transactions will be smoother and scammers will be easier to detect.
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