On March 25, 2010 PayPal announced an exciting partnership with Taiwan External Trade Development Council (TAITRA). Founded in 1970 to help promote foreign trade, TAITRA is the foremost non-profit trade promotion organization in Taiwan. Jointly sponsored by the government, industry associations, and several commercial organizations, TAITRA assists Taiwan businesses and manufacturers with reinforcing their international competitiveness and in coping with the challenges they face in foreign markets. Kerry Wong, the General Manager for PayPal Taiwan had this to say on the new exiting partnership, "It is my great pleasure to be here this afternoon for the launch of Taiwantrade\'s new sample selling function using PayPal as the method of payment. This is an important event for PayPal and our buyers and also marks the beginning of a new era to connect international buyers with Taiwantrades\' merchants."
In the past, overseas buyers have faced payment challenges when buying samples from merchants in Taiwan. Traditional purchasing methods often require significant resources, including time and money. With the newly launched PayPal feature within the Taiwantrade portal, buyers can complete purchases by settling payments online within seconds. In addition, Taiwantrade members will benefit from a complete online order tracking mechanism that helps parties entering into online transactions closely monitor the transaction process.
Kerry later added "Small and medium-sized businesses in Taiwan are known for their entrepreneurship, dedication to innovation and commitment to growth and success. As such, we have added five new currencies including New Taiwan Dollar in 2009. The addition of these new currencies makes it even easier to use PayPal around the world."
Michelle Peacock, Senior Director and Head of Global Government Relations for PayPal also added, "PayPal was founded in a simple mission in 1998: Build the web\'s most convenient, secure, cost-effective payment solution. PayPal is now the world\'s leading payment solution on the web. Every day, we connect hundreds of millions of buyers and sellers - and we continue to find new ways to help people do business around the world. In view of the mission and vision of TAITRA and PayPal, we are delighted that we can work with TAITRA, to bring our expertise to the Taiwantrade members and enable them to start their e-trading with international buyers."