PayPal to accept payments from Baidu Wallet

Rufina Vignone
Luglio 28, 2017

PayPal has continued its strategy of expanding its presence on mobile after it revealed a tie-up with Baidu.

Chinese internet company Baidu has announced a partnership with PayPal that will enable the Baidu mobile wallet to be accepted by some 17 million PayPal merchants worldwide, according to multiple media reports and a press release from Baidu. China's Baidu Inc reported an 83.5 per cent rise in quarterly profit, as the company shows signs of a recovery after the crackdown on its core ad business by Chinese regulators previous year.

"Important strategic partnerships are broadening the relevance of PayPal's platform and increasing PayPal's addressable market", the firm said in a filing for its latest financial results.

Baidu Wallet is in a distant third place in the race to dominate digital payments in China: Alibaba's Alipay has around 500 million users, while Tencent's WeChat Pay has about 600 million. Baidu Wallet was not included in the study. They are estimated to have processed close to $3 trillion cumulatively in 2016, according to a United Nations report, which put Alipay slightly ahead of $1.7 trillion compared to $1.2 trillion for WeChat Pay.

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