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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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