Paypal, secure online payment service f e-bay has more than 85 million users around the world. Paypal is available in total 24 currencies.
Paypal has decided to set up international e-commerce hub in Chongqing, largest industrial and commercial hub in south east china. This is going to enable cross border transactions in China. It will help customer to do payment in many available currencies through paypal, helping to grow e-bay. It will also help to sell Chinese products in different markets into other countries.
Currently, Most of the transaction and payment in China are done through Alipay, third party payment platform started by alibaba group,which has about 53 million users across china for B2B e-commerce.