From the third quarter of this year, China UnionPay cardholders will be able to link their accounts to PayPal.
This will give those cardholders access to nearly eight million global online merchants that presently accept PayPal. Those merchants include large American retailers such as Wal-Mart and Zappos.com.
In turn, global merchants using PayPal will then be able to accept payments from online buyers in China. Their ability to reach into China is limited, because credit card usage is low.
Paypal estimates online shoppers in China will number more than 300 million by 2013.
