Company expects expansion in individual account transfers and online B2B services

Digital payments company PayPal said on Wednesday that though its growth in China was hampered by the lack of a third-party license, it would take more steps to connect its 10 million global retailers and companies to the huge market.

According to Matthew Lee, vice-president and general manager of PayPal North Asia, the United States company expects to achieve its goal in two years and make PayPal "a tool that consumers use every day".