eBay's Whitman Concentrates on China this Summer - PayPal Launch Planned
From Forbes: eBay's Whitman to make frequent trips to Shanghai, PayPal launch planned
"Meg Whitman, president of eBay Inc, will be making frequent visits to China over the summer months to work on several projects, including the delayed launch of the company's online payment system PayPal, a spokesman for the company's China business said."
"Aside from the PayPal plan, he said the company could not disclose details on specific projects. Industry sources have said that Whitman is concerned about the company's declining position relative to Chinese rival Taobao.com."
"eBay, which had first-mover advantage in China's online auction market, had initially intended to launch its PayPal site in the first quarter of this year. The lack of a means to make secure online payments has been one of the main hurdles for on-line businesses in China and eBay has been losing market since Taobao launched its AliPay system in October 2003."
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