PayPal makes Japan move

PayPal makes Japan move

PayPal is set to make a concerted effort to break the lucrative Japanese market, despite the absence of its parent eBay in the country.

The online auction house quit the Japanese market in 2002, the same year it acquired PayPal, conceding the country to Yahoo Japan.

PayPal already operates in Japan but is a minor player. Traditionally, it has relied heavily on its parent as a way to attract accounts and transactions but in Japan it will sign up individual e-commerce outfits.

According to the AP, PayPal's boss in the country, Andrew Pipolo, told a press conference in Tokyo that the firm sees "great opportunities" in Japan, the world's second largest online consumer market. The firm will look to take a slice of this by selling itself to retailers as a way to tap overseas sales.

The Japan move is part of a concerted effort to tap the Asia Pacific market. In March it vowed to double its staff numbers in the region and signed a deal with China UnionPay.

The strength of PayPal and its importance to eBay was recently underlined by the company's second quarter results, which saw the payments unit record a revenue rise of 22% to $817 million.

PayPal making belated foray in Japan, without eBay - AP

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