PayPal Helps China High-Growth Cross-Border Mobile Commerce
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PayPal Helps Chinese Marketplaces to Be Leaders in High-Growth Cross-Border Mobile Commerce Market
2011-07-15 10:30
100 million active PayPal buyers globally can now shop anytime, anywhere on their mobile devices for great deals on nearly four million products from China
SHANGHAI, July 15, 2011 /PRNewswire-Asia/ -- PayPal, the global leader in online and mobile payments, recently announced cooperation agreements in cross-border m-commerce with three leading online marketplaces in China, DHgate, LightInTheBox and TradeTang. Over the past 3 months, PayPal's mobile team has worked closely with these Chinese marketplaces to launch PayPal as the exclusive payment option for DHgate (m.dhgate.com) and TradeTang (m.tradetang.com) mobile shopping websites as well as integrate PayPal as the sole payment solution for DHgate and LightInTheBox iPhone apps. These wholesale marketplaces are now able to seize the first-mover advantage in China to capitalize on the booming global mobile commerce trend and offer nearly four million Chinese products to 100 million active PayPal buyers and consumers in 190 markets and 25 currencies at incredible prices anytime, anywhere.
Pay with PayPal in as little as two clicks on the new LightInTheBox iPhone app
By partnering with PayPal, DHgate, LightInTheBox and TradeTang are expanding their global sales through this new mobile channel with up to US$10 million transacted every day by PayPal users via their mobile devices. PayPal is ideally suited to connect mobile shoppers around the world to Chinese merchants through faster, more convenient mobile payments that can be completed in as little as two clicks and without the need to enter in credit card details on a small screen. At the same time, PayPal provides a safer mobile payment method as no user information is shared with merchants and no financial details are stored on mobile devices. A recent research study conducted by GfK in April 2011 showed that PayPal is the top global brand for mobile payments because of high levels of trust with personal financial data, as ranked by consumers in nine major markets where mobile payments have been used for several years."Mobile shopping is one of the fastest-growing segments of the global e-commerce market and PayPal is a driving force behind its explosion as we expect mobile transaction volume on our global platform to reach US$3 billion with 8 million mobile users in 2011. By working with Chinese wholesale marketplaces that represent hundreds of thousands of Chinese SMEs and offer millions of products, we connect them with global buyers and provide an immediate impact and significant cost-savings to mobile shoppers worldwide," said Alan Tien, General Manager of PayPal China.
He added: "We're thrilled to partner with DHgate, LightInTheBox and TradeTang as they share the same philosophy and programs to provide high-quality products at great value to our global buyer base through a multi-channel sales approach, online and now mobile. We hope their business success will showcase the benefits of our cross-border mobile payment platform to Chinese merchants of all sizes and convince more of them to join us in the global mobile commerce revolution."
"As a leading marketplace in China, DHgate is making endless efforts to enable millions of overseas buyers to buy wholesale products directly from Chinese businesses. With the increasing momentum of m-commerce, we need to have a mobile shopping presence to meet the changing needs of how overseas buyers prefer to shop and pay now and in the future. By incorporating PayPal's leading mobile payment solutions, we allow overseas shoppers to quickly and safely pay for over three million Chinese products on our mobile shopping site or through our mobile app. With PayPal's excellent support, we are enabling all our merchants to win more business by selling to PayPal's significant mobile shopping user base around the world." said Diane Wang, CEO of DHgate.
"With the booming trend of m-commerce all over the globe, consumers are increasingly embracing the convenience of shopping and paying via smartphones. As one of the top online retailers in China and with PayPal's strong expertise in mobile payments, it was an easy decision for LightInTheBox to incorporate PayPal's payment solution optimized for mobile devices. We believe PayPal's cutting-edge mobile payment solutions widely used all over the world will bring our global customers a much faster and more secure shopping experience on their smartphones for our consumer lifestyle products," added Kevin Wen, President of LightInTheBox.
"Paying with PayPal on mobile devices can answer our international consumers' needs of shopping anytime and anywhere in a safer and more convenient way. We are so glad to see that millions of consumers worldwide can find what they need on our mobile store and pay quickly, securely with PayPal. We expect an estimated 20% of TradeTang.com's revenue will be generated by our mobile store in the future. Working closely with PayPal definitely opens a lot of opportunities for us to leverage their innovations to expand our global business through this new mobile sales channel," shares Joshua Hii, Vice President, Marketing & Merchandising, TradeTang.
With global buyers embracing the convenience of mobile shopping either on mobile websites or through in-app payment transactions, it's clear that mobile commerce is now a key megatrend in e-commerce industry. According to ABI Research, consumers over the globe are expected to spend US$119 billion by 2015 through their mobile phones, accounting for about 8 percent of all e-commerce activities. Meanwhile, the smartphone sales figures show the inevitability of mobile commerce development in next five years. According to Gartner Inc., worldwide smartphone sales will reach 468 million units in 2011, a 58% increase from 2010, and are expected to grow to 1.1 billion units by 2015.
About DHgate
DHgate is a leading international B2B e-commerce enterprise. We serve as a platform to help small and medium enterprises in China to enter global market through cross-border e-commerce. By opening up a brand new international business model, DHgate is making e-commerce easier, safer, and more efficiency. DHgate is building an online silk road between the enterprises in China and foreign buyers. As the pioneer of B2B overseas e-commerce trading platform, DHgate has fully considered the specificity of international trade, combining e-commerce with traditional international trade. For the operation of international trade, DHgate offers professional and effective information, Safe and reliable capital, quick and convenient logistics. More information about the company can be found at https://www.DHgate.com/
About LightInTheBox.com
LightInTheBox.com is a leading China-based online retailer that delivers products to consumers around the world at affordable price. They target lifestyle product categories where consumers value choice or customization, including special occasion apparel, fast fashion, home and garden, beauty, electronics, communications devices and accessories. They source most of our products directly from factories. Each month they ship products to customers in more than 160 countries. More information about the company can be found at https://www.LightInTheBox.com/
About TradeTang
TradeTang.com is the fastest growing internet platform in China, from nearly zero to more than 200 employees across China, is efficient and thoughtful to our clients. Unlike other worldwide commercial platforms, the TradeTang.com is a globalized B2B wholesale center that collects made-in-China merchandise all over the country from sellers directly link to the manufacturers. Most of their products come straight from factories, which means the lowest prices and, if disputes arise, buyers could contact the manufacturers directly and immediately. More information about the company can be found athttps://www.TradeTang.com/
About PayPal
PayPal is the faster, safer way to pay and get paid online. The service allows members to send payments without sharing financial information, with the flexibility to pay using their account balances, bank accounts (where available), debit cards and credit cards in various markets. PayPal is an eBay company and enables global e-commerce with more than 100 million active accounts in 190 markets and 24 currencies around the world. The company's open payment platform, PayPal X, allows developers to build innovative payment applications on multiple platforms and devices. More information about the company can be found at https://www.paypal.com/
PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore.
Media Contact:
Dickson Seow Idran Junadi PayPal Asia Pacific The Hoffman Agency Tel: +65-6510-6463 Tel: +65-6238-1851 Email: [email protected] Email: [email protected] SOURCE　PayPal
