PayPal Looking to Expand Payments Service Into Japan

Authored by Mark Hefflinger on July 28, 2010 - 10:14am.

Tokyo - Online payments firm PayPal, a unit of eBay (NASD: EBAY), is preparing to expand into Japan without the branding help of its corporate parent, which essentially conceded the auction market to Yahoo Japan when it withdrew from the country in 2002, the Associated Press reported.

PayPal currently counts over 87 million accounts worldwide, but does not have a large presence in Japan, the second-largest consumer market in the world.

"We're very, very new, we have a very small share of the market, so we still see great opportunities for Japan," Andrew Pipolo, head of PayPal in Japan, told AP.

The company will be looking to sign individual deals with retailers and other partners.

Related Links:
http://tinyurl.com/24ulnv3 (AP)