PayPal has manged to fend off serious competition and achieve what no other foreign company has been able to do to date becoming the first foreign operator with 100% control of a payment platform in China.
PayPal wins Chinese payments race with full ownership of payment business
PayPal acquired the 30% stake it doesn’t already own in China’s GoPay, formally known as Guofubao Information Technology, on December 31, 2020, according to shareholder data from the National Enterprise Credit Information Publicity System.
Financial details weren’t disclosed in the data. The stake purchase came a year after it bought a 70% stake