Magazines Archives - 2009 September

PayPal’s virtual Asia Mall links retailers to international shoppers
Story 14 - E-commerce

Online payment service provider Pay- Pal has launched an e-store, Asia Mall, which allows shoppers from all over the world to buy products from Asian retailers. In a press statement, PayPal, which is an eBay company, said that its new online shopping store (http://www. paypal-apac.com/apac-mall) offers “great deals and special offers for cash-conscious online shoppers”.

The company said that major online retailers in Singapore, Australia, Hong Kong, Japan and Taiwan are already present in PayPal’s Asia Mall and are offering a range of promotional offers to PayPal customers, from 20% discounts to free warranties and free cross-border delivery.

PayPal shoppers can browse through the promotions offered by Asian retailers in a range of categories in various stores such as the health & beauty store, Sasa.com, and the leading online gadget store, DealExtreme, with more Asian retailers expected to join the online store in the coming months.

Said Farhad Irani, vice-president of Asia Pacific, PayPal: “Online shoppers today are looking for choice, convenience and bargains, and will happily purchase from overseas retailers to satisfy these needs. Our Asia Mall offers Asian merchants the opportunity to connect with millions of these shoppers and drive cross-border trade for their business.”

The Asia-Pacific is one of PayPal’s fastest-growing regions with 12 million accounts and more than US$4 billion of total payment volume processed in the region in 2008, an increase of 56% from 2007.

According to research company Forrester, PayPal’s total value of transactions in 2008 represented nearly 9% of global e-commerce. The company which is headquartered in San Jose, California, has more than 75 million active accounts in 190 markets and 19 currencies around the world. Its international headquarters (PayPal Private Limited) are located in Singapore.

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