PayPal Cutting Ties with Alibaba Unit (EBAY) (YHOO)
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eBay's (Nasdaq: EBAY) PayPal has reportedly ended its partnership with Alibaba's AliExpress.
On its blog, PayPal cited unhappiness with AliExpress' customer service on the move.
Reuters said the reason for the split was AliExpress' increased customer business on a platform designed for business transactions.
The partnership is expected to cease on August 3rd.
"PayPal remains deeply committed to China by providing Chinese merchants access to a safer and easier way to sell to millions of our users all over the world," PayPal Communications Director Disckson Seow comments. "You’ll continue to see new initiatives, products and services from PayPal in China that help Chinese merchants grow their businesses by selling goods and services to our global buyers."
AliExpress is the wholesale website of Alibaba.com. Search giant Yahoo! (Nasdaq: YHOO) holds a 43 percent stake in Alibaba.
Both eBay and Yahoo! are trading slightly lower ahead of the market open Friday.
On its blog, PayPal cited unhappiness with AliExpress' customer service on the move.
Reuters said the reason for the split was AliExpress' increased customer business on a platform designed for business transactions.
The partnership is expected to cease on August 3rd.
"PayPal remains deeply committed to China by providing Chinese merchants access to a safer and easier way to sell to millions of our users all over the world," PayPal Communications Director Disckson Seow comments. "You’ll continue to see new initiatives, products and services from PayPal in China that help Chinese merchants grow their businesses by selling goods and services to our global buyers."
AliExpress is the wholesale website of Alibaba.com. Search giant Yahoo! (Nasdaq: YHOO) holds a 43 percent stake in Alibaba.
Both eBay and Yahoo! are trading slightly lower ahead of the market open Friday.
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