As PayPal expands in China, the American digital payments platform expects local merchants selling abroad to see cross-border e-commerce continue to grow despite mounting geopolitical and regulatory challenges.
“We are seeing meaningful interest from [Chinese] merchants as they are seeking to expand to go both to Europe as well as the US, and we feel that will persist,” Michelle Gill, head of PayPal’s Small Business and Financial Services Group, said in an interview in Shenzhen on September 25. “There’s both demand locally in the US as well as a desire to expand from China.”
The number of Chinese merchants selling overseas has grown rapidly in the last few years amid a slowing economy at home and as market entrants such as PDD Holdings’ Temu open new opportunities. This has created friction in the US and Europe, where governments are looking at levying tariffs on Chinese imports.
While it is too early to determine the impact of the change, Gill said growth opportunities will exist for companies that are creative about serving consumers. “Demand ultimately will either buoy prices to the point that it won’t matter, or people will bundle things together to facilitate that access,” she said.
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