July 11, 2005, 12:00 AM

PayPal launches service in China

PayPal has launched PayPal China, a free service designed specifically for Chinese Internet users.

Kurt Peters

Executive Editor

PayPal has launched PayPal China, a free service designed specifically for Chinese Internet users.

PayPal China offers payments in the local currency and is integrated with 15 Chinese banks and more than 20 debit cards. It is the only direct online payment service that offers a buyer protection program for purchases made on popular Chinese Internet portal sites Netease and TOM Online.

PayPal also will offer buyer protection on eBay EachNet, China’s leading e-commerce marketplace, beginning Sept. 1.

PayPal China joins PayPal sites in Australia, Austria, Belgium, Canada, France, Germany, Italy, the Netherlands, Spain, Switzerland and the United Kingdom. PayPal enables payments in six currencies outside of China-U.S., Australian and Canadian dollars, euros, Japanese yen and pounds sterling.

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