The US payment giant PayPal's curve into China is like throwing a big rock into a hardened lake. Everyone is concerned about whether this rock can smash a crack and shake the domestic payment pattern. PayPal is not only an American payment giant, but also an international payment giant. It has developed more than 200 markets around the world. Markets special database outside the United States contributed 43% of transaction volume and 54% of net income (2018 data). Domestic payment institutions are almost the same, PayPal is obviously different from it, and the degree of internationalization is beyond the reach of domestic payment institutions.
Because of this, PayPal's entry into China will give people imagination space. The question is, can foreign monks recite domestic scriptures well? 1. Who is PayPal? Many people know PayPal from Alipay. The market generally believes that there is a special database story between Alipay and PayPal. PayPal was established in 1998 and was acquired by eBay in 2002, becoming a transaction tool for eBay buyers and sellers; in 2003, Taobao launched Alipay to provide guaranteed transactions for buyers and sellers.
In terms of order, Alipay was inspired by PayPal. In the first few years, Alipay and PayPal were like two parallel lines, doing similar things in different markets, such as evolving from payment tools to payment wallets, and then deriving credit special database payment (loan) products. In 2014, the two began to have major differences at the strategic level. In this year, Ant Financial was established and turned to a comprehensive financial services group; while PayPal was planning to split with eBay and seek independent listing. In the following year, the two have completed their respective major actions.