PayPal Goes Chinese

New online payment site from PayPal services Chinese market via integration with 15 local banks.

Online payment service PayPal added another country to their worldwide web belt today as they announced PayPal China. This new site joins the ranks of the company’s other international sites, which include presences in Australia, Belgium, Italy and Spain.

PayPal China, according to the company, offers payments in the local currency and integration with 15 Chinese banks and more than 20 different debt cards. The site is also currently the only direct online payment service which offers a buyer protection program for purchases made on Netease and TOM Online. Thrown into this mix effective Sept. 1 will also be eBay EachNet.

“PayPal China is an extremely efficient online payment network that will improve the payment experience and increase the velocity of ecommerce in China,” said Mathias Entenmann, vice president of PayPal International. “As a pioneer of online payments, we are proud to bring our global payments expertise and local business knowledge to China.’