Alibaba, an ecommerce company, has revealed its intention to start working with PayPal to expand payment options.
The company is already talking with Apple about payments and may collaborate with eBay’s PayPal in the future.
The China-based ecommerce operator is setting its sights on global expansion as it seeks to attract international merchants and consumers for its platforms. Its financial affiliate has 17.9 million active users overseas in more than 100 countries.
eBay is splitting off PayPal to create two independent companies in 2015. The split may value PayPal at USD 47 billion, applying a multiple of 1.8 times trailing 12-month revenue to eBay’s marketplaces and advertising businesses
In recent news, Alibaba has registered sales worth USD 2 billion in the first hour of Singles’ Day in 2014, the secondary market research agency yStats revealed.