eBay headquarters in Singapore
The aggressive plans come after the company saw its mainstay e-commerce business as well as its money transfer arm PayPal grow strongly despite the economic crisis.
Almost half of the world’s internet users live in Asia and the growing affluence in the region represents a significantly untapped market for the online marketplace eBay.
It predicts that more consumers are looking to stretch their dollar through online shopping.
With that, eBay’s money transfer business PayPal, which accounts for a third of its revenues, is also expected to do well.
John Donahoe, president & CEO, eBay, said: “Even in the face of the global economic recession, both eBay and PayPal cross border business are growing greater than 50 per cent.
“So we have set goals to more than double in the Asian region over the next three years and I’m more than comfortable that we are going to exceed that.”
Declining to give actual figures, eBay does say that in 2009, more than half of PayPal’s growth is expected to come from outside the US.
There are about 12 million PayPal accounts currently in Asia and that number is set to grow.
To cater to regional demand, eBay has already boosted the number of currencies that PayPal can transact in.
Just this month, it added the Taiwan dollar, Philippine Peso, Malaysian Ringgit and Thai Baht to the existing stable, which include the Japanese Yen, Chinese Yuan and Singapore Dollar.
The other existing currencies are the New Zealand Dollar, Australian Dollar and Hong Kong Dollar. – read more at ChannelNewsAsia.com…
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November 23rd, 2009 at 10:44 pm
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