PayPal announced that it will enable China UnionPay credit and debit card acceptance by European merchants, creating opportunities for European merchants to engage in cross-border ecommerce with cardholders of China’s largest card network. Acceptance will be enabled though an enhancement to PayPal subsidiary Braintree’s mobile commerce platform.
The cross-border ecommerce market for Chinese consumers is projected at $118 billion in 2016, an annual increase of over 30% according to PayPal. Internet Retailer reports that 461 of the top 1000 retailers accept PayPal.
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