eCommerce firm Alibaba.com and PayPal have entered into an agreement under which PayPal will be offered on the AliExpress platform.
According to Alibaba.com, AliExpress allows customers to tailor orders to the needs of their small businesses, offering smaller-quantity orders, instant online transactions, and an escrow service to protect buyers and sellers.
Under the agreement, AliExpress merchants can now avail their customers with PayPal as a secure payment option. Businesses will be able to source goods through AliExpress using PayPal in their preferred local currency, which has more than 84 million active accounts and more than 8 million merchants in 190 markets and 24 currencies around the world.
David Wei, CEO at Alibaba.com, said: “AliExpress is designed to help even the smallest businesses to be more competitive because they can offer customers more unique products, at better prices through the benefits to global trade.
“Our work with companies such as PayPal is crucial, because we want to make sure we are meeting the needs of our customers by making payment as fast, safe and easy as possible.”
Scott Thompson, president at PayPal, said: “With millions of customers using PayPal in 190 global markets, when you offer PayPal, you open your business to the world. We share Alibaba.com commitment to giving small businesses every tool they need to succeed, including the ability to conduct fast and safe online payments. For this reason, we couldn’t be more excited to be working with AliExpress.
