PayPal unveils new platform to help Chinese merchants globally

United States-based online payment company PayPal is doubling down on the fast-developing cross-border digital payment sector in China, while supporting Chinese merchants' expansion into global markets.

The company has recently unveiled PayPal Complete Payments, an all-in-one payment platform that integrates a range of customized products and solutions to support Chinese merchants in selling globally.

This platform streamlines payment and receivables processes for businesses of all sizes in China, and empowers them to thrive in the cross-border trade and digital economy.

Hannah Qiu, senior vice-president of PayPal and CEO of PayPal China, said the company has facilitated the global expansion of many Chinese businesses, and it will continue to enhance and optimize system and product capabilities of PayPal China, helping Chinese merchants expand businesses globally through more diversified cross-border payment solutions.

"This launch marks a significant milestone in PayPal's mission to revolutionize commerce globally, bridging Chinese businesses with consumers around the world in a more efficient and transparent way," said Suzan Kereere, president of global markets at PayPal.

PayPal is the first foreign platform to enter China's online third-party payments market and the first foreign payment company with a wholly-owned subsidiary in China. It has continuously increased its investment and contributed to the healthy development and transformation of China's cross-border e-commerce and digital payment industries.

The company has collaborated closely with leading financial institutions and technology platforms in China to develop and introduce user-friendly products and solutions tailored to the needs of Chinese merchants.

fanfeifei@chinadaily.com.cn