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Tom Eachnet Cancels PayPal Service
June 1, 2007 |
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According to local media, Tom Eachnet has announced plans to cancel the the use of its PayPal service in China.
According to a report released by iResearch on China's third party payment market in the first quarter of this year, PayPal's market share in China has been reduced to only 1.6%, thus making it difficult for merchants to rely on the payment system to have a large critical mass to reach around China.
With the cancellation of PayPal, it might signal that this payment service will soon withdraw from China.
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Well, I hope this means that PayPal will now work on expanding to all EU states. I and many more Estonian webmasters would love to use PayPal, but we can't because PayPal has left Estonia out in the rain.