PayPal free to move to other online retailers like Amazon, Alibaba
PayPal users rejoice – there’s a chance you may be able to use it everywhere soon!
Since eBay and PayPal split last year, both companies have had the freedom to pursue other business activities, reports Wired. Now, they’re almost free to do so, and therefore free to move to popular retailers Amazon and Alibaba (Alibaba is the Chinese version of Amazon, which is moving into US markets):
“As independent companies, we expect eBay and PayPal will be sharper and stronger, and more focused and competitive as leading, standalone companies in their respective markets,” according to the filing with the Securities and Exchange Commission. “EBay and PayPal also will benefit from additional flexibility and agility to pursue new market and partnership opportunities.”
As part of the deal, PayPal will be free to move to other retailers and eBay free to use other payment systems, eBay must conduct 80% of its transactions through PayPal for the next five years. Another part of the deal states that PayPal cannot open its own eBay-type marketplace, and eBay cannot open its own PayPal.
One exception does exist: If PayPal is acquired by a competitor of eBay’s in the e-commerce space, eBay can look into creating a payments system after notifying PayPal in advance.
Will PayPal come to Amazon? Better question – will you use PayPal when it likely comes to Amazon?