EcommerceBytes-NewsFlash, Number 1058 - July 07, 2005 - ISSN 1539-5065
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eBay told Reuters it plans to launch PayPal in China by the end of this year, but would not make a formal announcement until there are more details (http://digbig.com/4dxcm ).
eBay's competitor in China, Alibaba, launched its own online payment system in February called AliPay, partnering with four of China's largest national banks. AliPay customers can fund payments three ways: Visa card, wire transfer and online transfer from their existing bank account. Alibaba.com guarantees all transactions made through the AliPay escrow system.
The Reuters report said SmartPay Jieyin Ltd. has also rolled out an electronic payment system. According to the SmartPay Website (http://www.smartpay.com.cn/aboutus_english/index.htm ), users link their bank account to their mobile phone number. Bills are sent directly to a SmartPay user's phone through SMS. The user simply has to reply, and SmartPay deducts payment from the user's bank account and credits the merchant. Users can also access the system through web, WAP and IVR.
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