PayPal vs Alipay-WeChat Pay duopoly: David against Goliath
PayPal has become the first foreign company to gain a Chinese payments license following the acquisition of a 70% stake in GoPay, an online payments firm based in China. The company, officially known as Guofubao Information Technology Co., was set up in 2011 as a joint venture between the China International Commerce Centre and HNA Retailing Holding, a subsidiary of the Chinese conglomerate HNA Group. On the 30th of September, PayPal received approval from the People’s Bank of China for the acquisition and therefore the licence to operate in China by proxy.
Fintech
Strategy Consulting
by Volker Schloenvoigt | Oct 31, 2019
%20-%20Pakistan%20_%20British.webp){kind=small}
