PayPal sees a better future in terms of growth in the Chinese market. (Photo : REUTERS)
A senior executive from online payment giant PayPal said on Monday that the global firm is expecting continued growth in China as it sees great potential in the country's market.
In an exclusive interview with the Xinhua News Agency, PayPal's Vice President of Asia Pacific Rohan Mahadevan said that the country "is a huge and very important market, with the growth rate of 35 to 40 percent in online payment."
The statement came shortly after the firm re-listed on the NASDAQ Stock Market.
According to Mahadevan, PayPal has been turning its attention to two categories of Chinese users: consumers buying from merchants abroad, and merchants trying to expand business overseas.
For both sides, Mahadevan said that "growth rates are very good," showing confidence and optimism over future opportunities in the Chinese market.
The PayPal senior executive also noted that China is one of the biggest export markets globally, with a huge number of fashion, accessories and electronics-related merchants selling items to consumers worldwide.
Mahadevan furthermore stated that China's middle class are becoming fonder in buying items overseas.
On Monday, PayPal officially announced that it has completed its separation from global e-commerce giant eBay Inc. The firm is now an independent entity, listed on NASDAQ under the PYPL ticker symbol.
One of the firms who graced the Monday event was Chinese smartphone maker OnePlus, which is one of PayPal's largest merchants.
Meanwhile, OnePlus co-founder and Director of Global Carl Pei expressed gratitude toward PayPal's contribution in making the smartphone firm achieve remarkable feat in its venture overseas.
"PayPal has been helping us build a strong foundation in overseas markets by providing payment solution, customized services and a global network of resources," Pei stated.
