Alibaba Open to Working With PayPal to Expand Payment Options: Report

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Alibaba Open to Working With PayPal to Expand Payment Options: Report
Alibaba Group Holding Ltd is open to working with eBay Inc's PayPal to expand its payment options, Bloomberg reported, citing an interview with the Chinese e-commerce company's vice chairman.

"If you look at our footprint of being the largest online payment company in China, and PayPal's position of having a very good international position, not just in the U.S. but also in some other countries, these are some complementary footprints," Joseph Tsai said Monday in Hangzhou, China.

Alibaba reported more than $9 billion in sales on China's Singles' Day on Tuesday.

The company also sees Apple Inc's payment system as helping Chinese consumers when Alibaba's financial services arm, Alipay, is not accepted, Tsai said.

In September eBay said it would spin off PayPal into a publicly traded company in the second half of 2015.

Alibaba and eBay could not immediately be reached for comment.

© Thomson Reuters 2014


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