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PayPal Buys a Chinese Payments Provider

By Shai Oster
· · Source: Caixin Global

PayPal took a major step towards becoming the first foreign online payments provider to enter China’s huge market. The firm announced it had completed the acquisition of a controlling 70% stake in GoPay, a domestic online payments service dwarfed by giants Alibaba and Tencent who have the two most popular digital wallets in China. The deal was first announced three months ago. The deal marks...

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Aryeh Bourkoff hates wasting time. Rather than checking his overcoat when he goes out to lunch during New York’s frigid winters, the investment banker sometimes asks his assistant to walk with him to the restaurant so she can take his coat with her back to the office. When it is time for him to leave, he summons her to bring it back, say people who know Bourkoff.

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