Paypal to increase China coverage

PAYPAL is in talks with a number of leading Chinese travel agencies to accept it for payment by overseas travellers to take advantage of the booming inbound travel market.

The move would expand PayPal's share in China's online payment market.

The eBay Inc's online payment subsidiary said it has already finalized cooperation deals with nearly 100 travel agencies, including China International Travel Service, as their recommended payment option for overseas customers that want to pay online.

The deals involve an agreed share that PayPal will get from the transactions, but the percentage was not disclosed.

"It will be win-win for both parties as the travel agencies can get more customers where our service has already covered," PayPal said yesterday.

Covering 190 countries and regions and popular in the US and the UK, PayPal had only 0.58 percent share electronic payment market in China in the third quarter.