{"id":36912,"date":"2017-07-27T05:00:29","date_gmt":"2017-07-27T05:00:29","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=36912"},"modified":"2017-07-27T05:00:29","modified_gmt":"2017-07-27T05:00:29","slug":"chinas-baidu-enters-strategic-partnership-with-paypal-to-tap-chinese-tourists","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/technology\/chinas-baidu-enters-strategic-partnership-with-paypal-to-tap-chinese-tourists.html","title":{"rendered":"China&#8217;s Baidu enters strategic partnership with Paypal to tap Chinese tourists"},"content":{"rendered":"<h2 style=\"text-align: justify\"><span style=\"font-size: 18pt\"><strong><span style=\"color: #000000;font-family: Arial, Helvetica, sans-serif\">China&#8217;s Baidu enters strategic partnership with Paypal to tap Chinese tourists<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">Baidu Inc said on Friday that it has entered a strategic agreement with PayPal Holdings Inc to tap overseas merchants as Chinese tech companies ramp up the fight for overseas payment partnerships.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">Under the agreement, Baidu&#8217;s payment platform, Baidu Wallet, will be accepted by roughly 17 million PayPal merchants globally, the Chinese firm said in a statement on Thursday.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">&#8220;Partnering with PayPal on technology and product innovation will provide Baidu users with the ultimate cross-border consumer experience,&#8221; said Baidu senior vice president Guang Zhu.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">The deal comes as China&#8217;s top payment firms, Alibaba Group Holding Ltd affiliate Ant Financial and Tencent Holdings Ltd, are making aggressive moves to expand their payment networks overseas.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">This year Ant Financial entered a $1.2 billion bid for U.S. remittance firm MoneyGram International Inc, a deal that has attracted scrutiny from U.S. lawmakers who say it could threaten national security.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">Ant has also purchased stakes in half a dozen payment firms across Asia as part of a plan to expand its finance business outside of China.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">Tencent&#8217;s WeChat Pay has also inked a series of partnerships with global payment firms and earlier this month said it has applied directly for a Malaysian payments license.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">PayPal, which reported better-than-expected results on Thursday, entered into new partnerships with Apple Inc and Bank of America this month.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">It has also targeted Southeast Asian markets recently through local partnerships, but earlier attempts to enter the Chinese market directly have been unsuccessful due to tight regulation and strong local players.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">PayPal will work with Baidu&#8217;s financial services group under the new agreement to target cross-border payments between Chinese consumers and online businesses based outside of China.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">Baidu Wallet has roughly 100 million users, and still trails behind Tencent&#8217;s WeChat and Ant Financial&#8217;s Alipay in terms of users and global reach.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 8pt;font-family: Arial, Helvetica, sans-serif\">source:-https:\/\/www.reuters.com\/article\/us-baidu-paypal-payments-idUSKBN1AC059<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/technology\/chinas-baidu-enters-strategic-partnership-with-paypal-to-tap-chinese-tourists.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>China&#8217;s Baidu enters strategic partnership with Paypal to tap Chinese tourists Baidu Inc said on Friday that it has entered a strategic agreement with PayPal Holdings Inc to tap overseas merchants as Chinese tech companies ramp up the fight for overseas payment partnerships. Under the agreement, Baidu&#8217;s payment platform, Baidu [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":36913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[27069,27067,27068],"class_list":["post-36912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-partnership-paypal-account","tag-partnership-with-paypal","tag-paypal-to-tap-chinese-tourists"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/36912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=36912"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/36912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/36913"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=36912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=36912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=36912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}