PayPal puts an end to his alliance with Alibaba

Best Growth Stock – EBay, PayPal, online payment unit will end his one year Alliance with AliExpress, wholesale web site Alibaba.com, from first days of August, said PayPal Friday.

“PayPal remains very committed to China Chinese traders to facilitate access to more secure and easy to sell to millions of users around the world.” “And our business is strong,” said Dickson Seow, director of communications of PayPal Asia Pacific, in the blog of the firm.

PayPal said that its total volume of payments in China was more than $4.400 million in 2010, 44% more than last year.

Alibaba.com is a unit of Alibaba Group, which Yahoo has almost 40%.

None of the two parties gave the reasons for their separation, but a document obtained by Reuters showed that PayPal was unhappy with the growing business of consumption of AliExpress platform, created for commercial transactions, and wanted to increase tariffs on certain accounts.

“AliExpress is committed to service to our customers that different payment options,” said Sabrina Peng, Vice President of Alibaba.com, in a statement.

eBay competes with Alibaba.com and Taobao Alibaba Group in China of e-commerce market.