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Tue June 19 2007 11:53:52

Alibaba to Compete with eBay's PayPal?

By: Ina Steiner

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Forget the problems eBay has with Google Checkout,...the rumor du jour is that Alibaba is gearing up its Alipay escrow service to become an online payment service in which global buyers can pay for their Alibaba-sourced goods from China with Alipay. It makes sense given that Jack Ma watches and learns from his competitors. He has seen how the integration of PayPal into eBay has strengthened both services. File this under rumor.

Meanwhile, according to Reuters, the South China Morning Post reports that Alibaba.com will raise up to US$1 billion in a Hong Kong initial public offering this year.





Comments (6) | Permalink

Readers Comments

Alibaba to Compete with eBay's PayPal?   Alibaba to Compete with eBay's PayPal?

by: Rchemel

Tue Jun 19 13:06:38 2007

Having used Alibaba for over a year now, I would never use a payment system from them. They need to get their site security in step with current times.

Alibaba to Compete with eBay's PayPal?   Alibaba to Compete with eBay's PayPal?

by: James Spencer

Tue Jun 19 17:30:54 2007

There seems to be the trace of the copycat here.  Baidu teams up with eBay, Google launches checkout now Alibaba (which runs Yahoo China) talks about a payment system of their own.

http:\www.chinasearchads.com

Alibaba to Compete with eBay's PayPal?   Alibaba to Compete with eBay's PayPal?

by: Concerned

Wed Jun 20 01:24:22 2007

Alibaba.com is a primary facilitator of the illegal and brutal harvesting of shark fins. It is depleting the oceans of its apex predator, which has dire consequences, it is illegal, and it is brutal. It is the equivalent of the ivory trade in Africa. Alibaba.com fuels the illegal Shark Fin trade by facilitating the largest number of shark parts vendors, which primarily are harvested illegally in Central and South America, and supported by the Hong Kong and Taiwanese mafia.

This is a serious issue. Over 136 renowned shark researchers as well as some business executives, including myself, have attempted approached Alibaba and requested the elimination of this horrific (and illegal) product category, only to be ignored.

For some more info see:
http://www.seashepherd.org/news/media_061229_1.html
http://
www.thepetitionsite.com/takeaction/400108473

The
top 136 shark scientists on the planet recently issued a Shark Manifesto, urging the United Nations to immediately act on this serious issue. This issue trumps whales, ivory and any other environmental atrocity. Unfortunately, due to the fact that it is difficult to witness this mass and brutal slaughter, where 100 million sharks are finned annually, and thrown back into the ocean alive to die a slow and brutal death, coupled with the negative press that sharks have received over time, the issue became a critical one with little prior public warning.

This serious issue plagues the fate of the world oceans, which we all depend on. Alibaba.com is a primary violator and no IPO should be supported until they remove this product category, If they were selling 400 vendors' ivory products, you would feel the same. I hope this shows an equivalent concern...

Alibaba to Compete with eBay's PayPal?   Alibaba to Compete with eBay's PayPal?

by: Paul Woodward

Wed Jun 20 16:35:57 2007

The Alipay service has been available in China as a fairly robust and simple escrow system for over a year now. It was launched primarily to support the Taobao.com auction site which ate eBay for lunch in China and spat it out. The question now is whether it will be extended to serve Alibaba's international users. At the moment, it's purely a domestic service and, as far as   I know, the only one. There's no PayPal in China, only Alipay.

Given the complexities of China's foreign exchange regulations, I think it would be very hard to make it work internationally. Also, very few people actually buy stuff through Alibaba internationally; they use it to locate new suppliers in China and then work with them off line. That's not likely to change anytime too soon given the way that the international trading community works.

Alibaba to Compete with eBay's PayPal?   Alibaba to Compete with eBay's PayPal?

by: Katherine

Thu Jun 21 20:08:47 2007

Once, when I was trying to source something, I made the terrible mistake of giving Ali Baba my email address. (I had to in order to proceed and get "access" to the supposd supplies.) They had misrepresented what their supplier base actually had- NONE had the item I was inquiring about even though their website is designed to make it look like they have virtually anything you type in- same for Indiamart. NIGHTMARE!

Then I then got a barrage of spam from tons of their suppiers who had been given access to all their inquirers email addresses! I was pumelled with offers for things not even remotely like the item I had said I was looking for.

Would I trust them with a financial transaction product?? NEVER!

But part of the problem is that the arrogant Western World- the worst offender by far all being Ebay/Paypal- won't do business with other countries. They think the ends of the world are San Francisco on one side and New York on the other.

Try to sell a product and use paypal ANYWHERE but the U.S. and our close English speaking blue-eyed buddies and forget it. You may well have your paypal account FROZEN, and your funds SEIZED if you even LOG IN to your paypal account-in-good-standing while breifly on vacation in a non-wasp country! It happened to me! I was never able to unfreeze it!Paypal took my money! I won a class action lawsuit aganst them and I think we all got twenty five bucks out of it. Paypal doesn't care- they still run a sleazy business. Even losing the class action lawsuit for their illegal ways of doing business had very little effect on the unscrupulous way they continue to do business.

Think about **that** when you run your auctins "Paypal Only" !

Okay; those are some gripes- their are more scrupulous bunsinesses that I'll be the first to praise, tout and support!

Alibaba to Compete with eBay's PayPal?   Alibaba to Compete with eBay's PayPal?

by: VEE

Sat Jun 27 07:45:08 2009

iT IS TIME THAT ALIBABA STARTED USING A SAFE AND SECURE METHOD OF PAYMENT SO THAT BOTH SELLERS AND BUYERS CAN REST ASSURED THAT THEIR ORDERS WILL BE RECEIVED AND MONIES COLLECTED. both parties happy.



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