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Updated Friday, March 19, 2010 10:48 am TWN, AFP

UnionPay and PayPal to team up for Chinese consumers

BEIJING -- PayPal, the online payment platform of U.S. e-commerce giant eBay, will tie up with a Chinese partner to allow consumers in China to buy from overseas merchants, according to a report. Customers of China UnionPay, the country's largest provider of electronic payment services, will be able to link their bankcard accounts with PayPal from the third quarter of 2010 under the deal, Wednesday's Wall Street Journal said.

They will then have access to a network of nearly eight million online merchants worldwide, including US retailer Walmart Stores Inc. and Zappos.com, a unit of Amazon.com, the paper added.

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