A quarter of PayPal users – or more than 40 million customers – bought from Chinese companies online last year.
China’s eCommerce market, already the global leader, continues to grow with sales reaching $589 billion last year – up 33 per cent from 2014, reports Internet Retailer.
According to Alibaba news site Alizila, more than 400 million people in China made purchases via the web last year. While they probably used mobile wallets Alipay and WeChat Pay, PayPal seems to be the prime option for international shoppers.
Braintree, PayPal’s payment gateway, has enabled UnionPay acceptance among European merchants. Meanwhile, Mastercard and Visa are launching in China, which will make it even easier for international shoppers to buy via PayPal in China using their present cards.