PayPal: the First Foreign Company to Aquire Chinese Payments License
PayPal became the first foreign company to acquire payments license in China after buying a majority stake in Guofubao (Gopay), a Chinese payments group. Guofubao said on Monday, September 30 that the central bank approved Paypal’s acquisition of 70% stakes in the company for an undisclosed sum. After two years of promises from Beijing, the … Read more