30-Sep-19, TechCrunch 

The People’s Bank of China has approved PayPal’s acquisition of a 70% equity state in GoPay, which will make PayPal the first foreign payment platform to provide online payment services in China. 

PayPal to enter China through GoPay acquisition(c)techcrunch

Image: TechCrunch

GoPay has licenses for online and mobile transactions, and mainly provides payment products for industries including e-commerce, cross-border commerce, aviation tourism and others.

The news of PayPal’s entry into China comes at a time when there’s increased tension between the U.S. and China, with The White House reportedly now considering curbing some U.S. investments in China amid the trade dispute between the countries.

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