PayPal, the third-party Internet payment platform of eBay, has announced that it will terminate its cooperation with AliExpress, the worldwide site of the Chinese B2B e-commerce group Alibaba, from August 3, 2011.

PayPal, the Internet payment subsidiary of the American e-commerce company eBay, has reached a deal with the Chinese intra-bank card system operator China UnionPay, to allow China UnionPay's card holders to use PayPal as a payment tool when shopping on overseas websites.

EBay's online payment subsidiary PayPal is negotiating with the Chinese B2B e-commerce group Alibaba, aiming to introduce its online payment service in China into Alibaba's worldwide site of AliExpress.

By ChinaTechNews.com Editorial Team Despite a worldwide financial crisis, China's e-commerce industry is seeing something of a boom, growing over 120% in 2008 and with rapid growth projected over the next 3-5 years. At the moment, the demand for low prices and high quality is overwhelming, and traditional wholesale channels are losing ground to Internet-based [...]

Chinese online payment platform Alipay has announced that the company has gained over 200 million users, exceeding the world's largest e-commerce payment platform Paypal.

In a move that seems like eBay's subsidiary PayPal might be contemplating a Chinese acquisition, Chinese independent third-party online payment company 99bill.com has signed an agreement with PayPal to jointly improve its international payment efficiency and promote international trade settlement.

China's third-party Internet payment platform Alipay has announced that by the end of August 2008, the number of its users has reached over 100 million, making it the second largest payment platform after American-based Paypal, which has over 180 million users in the world.