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Alibaba May Work With PayPal as Singles’ Day Sets Record

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Alibaba Group Holding Ltd. is open to working with EBay Inc.’s PayPal to expand payment options after shoppers bought a record 57.1 billion yuan ($9.3 billion) of goods during the Chinese company’s annual Singles’ Day promotion.

Asia’s largest Internet company also sees Apple Inc.’s payment system as helping Chinese consumers when Alibaba’s finance affiliate Alipay isn’t accepted, Vice Chairman Joseph Tsai said in an interview yesterday in Hangzhou, China. Alibaba said earlier that it beat last year’s record of 36.2 billion yuan for the Nov. 11 promotion within 14 hours.