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Published 3 years ago

PayPal becomes first foreign firm in China with full ownership of payments business

Summary by Reuters
SHANGHAI - PayPal Holding Inc has become the first foreign operator with 100% control of a payment platform in China, according to Chinese government data, as the U.S. fintech giant eyes a bigger foothold in a booming market for online payments. PayPal acquired the 30% stake it doesn't already own in China's GoPay, formally known as Guofubao Information Technology Co., on Dec. 31, 2020,

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