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Rumors of PayPal Partnering with Chinese Entity
US auction company eBay Inc may partner its PayPal online payments service with a local Chinese entity should it be required by local regulations, chief executive Meg Whitman said.
However, Whitman, speaking to media in Shanghai, refused to comment on a rumored venture between the payment service and UMPay, a joint venture between China Mobile Ltd and bank card provider China Unionpay.
‘We will see what the right thing to do is here in the People’s Republic of China, I am aware of some of the pending government regulation around the need to find a local partner for a financial-services product,’ Whitman said.
eBay’s Whitman says Chinese partner possible for PayPal, but no comment on UMPay – Forbes.com
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