Alibaba Introduces PayPal on AliExpress

Alibaba.com Introduces Payment with PayPal on AliExpress

Alliance Makes It Easier for Small Businesses Around the World to Participate in Global Trade with AliExpress

April 26, 2010 05:33 PM Eastern Daylight Time 

HONG KONG & SAN JOSE, Calif.--(EON: Enhanced Online News)--Alibaba.com Limited (SEHK:1688) (1688.HK), the world's leading small business e-commerce company, and PayPal today announced that PayPal will be offered on the AliExpress platform (www.aliexpress.com). In beta since September 10, 2009, and officially launched yesterday, AliExpress allows customers to tailor orders to the needs of their small businesses, offering smaller-quantity orders, instant online transactions, and an escrow service to protect buyers and sellers.

“At PayPal, we share Alibaba.com’s commitment of giving small businesses every tool they need to succeed, including the ability to conduct fast and safe online payments. For this reason, we couldn’t be more excited to be working with AliExpress.”

With this agreement, AliExpress merchants can now avail their customers with PayPal as a fast and secure payment option. Businesses will now be able to easily source goods through AliExpress using PayPal in their preferred local currency. PayPal is one of the leading online payment platforms in the world with more than 84 million active accounts and more than 8 million merchants in 190 markets and 24 currencies around the world.

The alliance will provide customers around the world with the convenience and protections that PayPal has built over its 12-year history, in addition to the escrow service offered on the AliExpress site.

“AliExpress is designed to help even the smallest businesses to be more competitive because they can offer customers more unique products, at better prices through the benefits to global trade,” said David Wei, CEO of Alibaba.com. “Our work with companies such as PayPal is crucial, because we want to make sure we are meeting the needs of our customers by making payment as fast, safe and easy as possible.”

“With millions of customers using PayPal in 190 global markets, when you offer PayPal, you open your business to the world," said Scott Thompson, president of PayPal. "At PayPal, we share Alibaba.com’s commitment of giving small businesses every tool they need to succeed, including the ability to conduct fast and safe online payments. For this reason, we couldn’t be more excited to be working with AliExpress.”

Alibaba.com launched a beta test of AliExpress in September 2009. Currently, there are more than three million listed products from more than 40 categories.

About Alibaba.com

Alibaba.com is the global leader in e-commerce for small businesses and the flagship company of Alibaba Group. Founded in 1999, Alibaba.com makes it easy for millions of buyers and suppliers around the world to do business online through three marketplaces: a global trade marketplace (www.alibaba.com) for importers and exporters, a Chinese marketplace (www.1688.com) for domestic trade in China, and, through an associated company, a Japanese marketplace (www.alibaba.co.jp) facilitating trade to and from Japan. Together, its marketplaces form a community of more than 47 million registered users from more than 240 countries and regions. Alibaba.com also offers business management software and Internet infrastructure services targeting small businesses across China and, through Ali-Institute, incubates e-commerce talent for Chinese small businesses. Founded in Hangzhou, China, Alibaba.com has offices in more than 60 cities across Greater China, Japan, Korea, Europe and the United States.

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With more than 84 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company and is made up of three leading online payment services: the PayPal global payment service, the Payflow Gateway and Bill Me Later. 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.

Contacts

Alibaba.com

Linda Kozlowski, +852 2215 5210 (Media Inquiries)

lkozlowski@hk.alibaba-inc.com

or

PayPal

Anuj Nayar, +1-408-967-5730 (Media Inquiries)

anayar@paypal.com

Permalink: http://eon.businesswire.com/news/eon/20100426007024/en

Alibaba Introduces PayPal on AliExpress

Alibaba.com Introduces Payment with PayPal on AliExpress

Alliance Makes It Easier for Small Businesses Around the World to Participate in Global Trade with AliExpress

April 26, 2010 05:33 PM Eastern Daylight Time 

HONG KONG & SAN JOSE, Calif.--(EON: Enhanced Online News)--Alibaba.com Limited (SEHK:1688) (1688.HK), the world's leading small business e-commerce company, and PayPal today announced that PayPal will be offered on the AliExpress platform (www.aliexpress.com). In beta since September 10, 2009, and officially launched yesterday, AliExpress allows customers to tailor orders to the needs of their small businesses, offering smaller-quantity orders, instant online transactions, and an escrow service to protect buyers and sellers.

“At PayPal, we share Alibaba.com’s commitment of giving small businesses every tool they need to succeed, including the ability to conduct fast and safe online payments. For this reason, we couldn’t be more excited to be working with AliExpress.”

With this agreement, AliExpress merchants can now avail their customers with PayPal as a fast and secure payment option. Businesses will now be able to easily source goods through AliExpress using PayPal in their preferred local currency. PayPal is one of the leading online payment platforms in the world with more than 84 million active accounts and more than 8 million merchants in 190 markets and 24 currencies around the world.

The alliance will provide customers around the world with the convenience and protections that PayPal has built over its 12-year history, in addition to the escrow service offered on the AliExpress site.

“AliExpress is designed to help even the smallest businesses to be more competitive because they can offer customers more unique products, at better prices through the benefits to global trade,” said David Wei, CEO of Alibaba.com. “Our work with companies such as PayPal is crucial, because we want to make sure we are meeting the needs of our customers by making payment as fast, safe and easy as possible.”

“With millions of customers using PayPal in 190 global markets, when you offer PayPal, you open your business to the world," said Scott Thompson, president of PayPal. "At PayPal, we share Alibaba.com’s commitment of giving small businesses every tool they need to succeed, including the ability to conduct fast and safe online payments. For this reason, we couldn’t be more excited to be working with AliExpress.”

Alibaba.com launched a beta test of AliExpress in September 2009. Currently, there are more than three million listed products from more than 40 categories.

About Alibaba.com

Alibaba.com is the global leader in e-commerce for small businesses and the flagship company of Alibaba Group. Founded in 1999, Alibaba.com makes it easy for millions of buyers and suppliers around the world to do business online through three marketplaces: a global trade marketplace (www.alibaba.com) for importers and exporters, a Chinese marketplace (www.1688.com) for domestic trade in China, and, through an associated company, a Japanese marketplace (www.alibaba.co.jp) facilitating trade to and from Japan. Together, its marketplaces form a community of more than 47 million registered users from more than 240 countries and regions. Alibaba.com also offers business management software and Internet infrastructure services targeting small businesses across China and, through Ali-Institute, incubates e-commerce talent for Chinese small businesses. Founded in Hangzhou, China, Alibaba.com has offices in more than 60 cities across Greater China, Japan, Korea, Europe and the United States.

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With more than 84 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company and is made up of three leading online payment services: the PayPal global payment service, the Payflow Gateway and Bill Me Later. 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.

Contacts

Alibaba.com

Linda Kozlowski, +852 2215 5210 (Media Inquiries)

lkozlowski@hk.alibaba-inc.com

or

PayPal

Anuj Nayar, +1-408-967-5730 (Media Inquiries)

anayar@paypal.com

Permalink: http://eon.businesswire.com/news/eon/20100426007024/en

AliPay Receives $732 Million Investment from Alibaba Group

Alipay Receives RMB5 Billion Investment from Alibaba Group

Investment to Target Infrastructure Security; Product Development; Customer Accounts and Merchant Network Growth; and Talent Development

HANGZHOU, China--(BUSINESS WIRE)--Alipay, China’s largest online payment network, has announced that Alibaba Group will invest a total of RMB5 billion (US$732 million¹) over the next five years to upgrade the payment solution for e-commerce in China and around the world.

“Online payment will continue to play an ever-growing and significant role in the development of e-commerce as well as the stimulation of consumer demand”

“Online payment will continue to play an ever-growing and significant role in the development of e-commerce as well as the stimulation of consumer demand,” said Lucy Peng, CEO of Alipay & CPO of Alibaba Group. “Consumers expect a safe, convenient and affordable globalized payment platform. That’s what we have offered since the creation of Alipay and with this investment we aim to continue playing a fundamental role in the ongoing development of e-commerce in China and around the world.”

The new investment of RMB5 billion will be used to enhance infrastructure security; develop products to improve ease of use and convenience for customers; continue to grow a massive number of consumer accounts; build a comprehensive network of merchants; and retain and attract top-tier talent from the payments industry.

“A truly first-rate payment infrastructure must be one that offers unquestionable security and an excellent user experience. It must be universally accepted by consumers and merchants. Only a platform with these qualities will be able to meet the growing demands of the hundreds of millions of consumers embracing retail e-commerce,” said Peng.

With this investment, Alipay will be able to attract and train a larger pool of talented professionals from the payments industry who will build a truly globalized and sophisticated e-commerce payment infrastructure. Alipay will also commit additional resources into online safety and security, risk and data management, as well as innovate in new technology areas such as mobile payments.

About Alipay

Alipay is China's leading online payment solution, enabling individuals and businesses to execute payments online in an easy, safe and secure manner. Alipay had a registered user base of over 300 million as of March 2010. Alipay partners with banks to provide an escrow service for payments, which reduces the settlement risks faced by Alipay's customers in their e-commerce transactions. Alipay, headquartered in Hangzhou, was founded by Alibaba Group in 2004.

About Alibaba Group

Alibaba Group is a global e-commerce leader and the largest e-commerce company in China. Since it was founded in 1999, Alibaba Group has grown to include the following core businesses: Alibaba.com (HKSE:1688.HK), Alibaba Group's flagship company and the world's leading B2B e-commerce company; Taobao, China's largest Internet retail Web site and a one-stop platform for shopping, socializing and information sharing; Alipay, China's leading third-party online payment service; Alibaba Cloud Computing, a developer of advanced data-centric cloud computing services; and China Yahoo!, one of China's leading Internet portals.

¹ US$1 = RMB 6.83

Contacts

Alibaba Group

John W. Spelich, +852 2215 5129

johnspelich@hk.alibaba-inc.com

Justine Chao, +852 2215 5229

justinechao@hk.alibaba-inc.com

Permalink: http://www.businesswire.com/news/home/20100411005083/en/Alipay-Receives-RMB5-Billion-Investment-Alibaba-Group

AliPay Receives $732 Million Investment from Alibaba Group

Alipay Receives RMB5 Billion Investment from Alibaba Group

Investment to Target Infrastructure Security; Product Development; Customer Accounts and Merchant Network Growth; and Talent Development

HANGZHOU, China--(BUSINESS WIRE)--Alipay, China’s largest online payment network, has announced that Alibaba Group will invest a total of RMB5 billion (US$732 million¹) over the next five years to upgrade the payment solution for e-commerce in China and around the world.

“Online payment will continue to play an ever-growing and significant role in the development of e-commerce as well as the stimulation of consumer demand”

“Online payment will continue to play an ever-growing and significant role in the development of e-commerce as well as the stimulation of consumer demand,” said Lucy Peng, CEO of Alipay & CPO of Alibaba Group. “Consumers expect a safe, convenient and affordable globalized payment platform. That’s what we have offered since the creation of Alipay and with this investment we aim to continue playing a fundamental role in the ongoing development of e-commerce in China and around the world.”

The new investment of RMB5 billion will be used to enhance infrastructure security; develop products to improve ease of use and convenience for customers; continue to grow a massive number of consumer accounts; build a comprehensive network of merchants; and retain and attract top-tier talent from the payments industry.

“A truly first-rate payment infrastructure must be one that offers unquestionable security and an excellent user experience. It must be universally accepted by consumers and merchants. Only a platform with these qualities will be able to meet the growing demands of the hundreds of millions of consumers embracing retail e-commerce,” said Peng.

With this investment, Alipay will be able to attract and train a larger pool of talented professionals from the payments industry who will build a truly globalized and sophisticated e-commerce payment infrastructure. Alipay will also commit additional resources into online safety and security, risk and data management, as well as innovate in new technology areas such as mobile payments.

About Alipay

Alipay is China's leading online payment solution, enabling individuals and businesses to execute payments online in an easy, safe and secure manner. Alipay had a registered user base of over 300 million as of March 2010. Alipay partners with banks to provide an escrow service for payments, which reduces the settlement risks faced by Alipay's customers in their e-commerce transactions. Alipay, headquartered in Hangzhou, was founded by Alibaba Group in 2004.

About Alibaba Group

Alibaba Group is a global e-commerce leader and the largest e-commerce company in China. Since it was founded in 1999, Alibaba Group has grown to include the following core businesses: Alibaba.com (HKSE:1688.HK), Alibaba Group's flagship company and the world's leading B2B e-commerce company; Taobao, China's largest Internet retail Web site and a one-stop platform for shopping, socializing and information sharing; Alipay, China's leading third-party online payment service; Alibaba Cloud Computing, a developer of advanced data-centric cloud computing services; and China Yahoo!, one of China's leading Internet portals.

¹ US$1 = RMB 6.83

Contacts

Alibaba Group

John W. Spelich, +852 2215 5129

johnspelich@hk.alibaba-inc.com

Justine Chao, +852 2215 5229

justinechao@hk.alibaba-inc.com

Permalink: http://www.businesswire.com/news/home/20100411005083/en/Alipay-Receives-RMB5-Billion-Investment-Alibaba-Group