x

PayPal becomes first foreign firm to own 100% stake in payments business in China

Shortpedia

Content Team
Image Credit: shortpedia

US based online payment company, PayPal Holding Inc has become the first foreign operator to have a full control of a payment platform in China, as per the official data from the government. The comes after the fin-tech giant acquired renaming 30 per cent stake in Chinese payment platform GoPay, thereby gaining control over 100 per cent ownership of the firm.