SAN JOSE, Calif.--July 11, 2005--PayPal, the global online payment service, today announced the launch of a new service specifically designed for Chinese Internet users, PayPal China (https://www.paypal.com.cn).
A free service, PayPal China offers payments in the local currency and integration with 15 Chinese banks and more than 20 different debit cards. Additionally, PayPal China is the only direct online payment service that offers a buyer protection program for purchases made on popular Internet portal sites Netease and TOM Online. PayPal will offer buyer protection on China's leading ecommerce marketplace, eBay EachNet, on September 1, 2005.
An easy and fast payment service, PayPal China also makes online payments extremely safe. In addition to offering buyer protection, PayPal never shares buyers' financial information with sellers, and customers are fully protected against unauthorized use of their accounts.
"PayPal China is an extremely efficient online payment network that will improve the payment experience and increase the velocity of ecommerce in China," said Mathias Entenmann, vice president of PayPal International. "As a pioneer of online payments, we are proud to bring our global payments expertise and local business knowledge to China."
PayPal China joins the growing list of PayPal's international sites, including: PayPal Australia, PayPal Austria, PayPal Belgium, PayPal Canada, PayPal France, PayPal Germany, PayPal Italy, PayPal Netherlands, PayPal Spain, PayPal Switzerland and PayPal UK. PayPal enables payments in six currencies outside of China: U.S. Dollars, Australian Dollars, Canadian Dollars, Euros, Japanese Yen and Pounds Sterling.
Founded in 1998, PayPal, an eBay company (Nasdaq:EBAY), enables any individual or business with an email address to send and receive payments online securely, easily and quickly. PayPal's service builds on the existing financial infrastructure of bank accounts and credit cards, and uses one of the world's most advanced proprietary fraud prevention systems to create a safe, global, real-time payment solution. PayPal has nearly 72 million accounts and is available to users in 56 markets around the world. More information about the company can be found at https://www.paypal.com.