PayPal completes GoPay acquisition, allowing the payments platform to enter China

This week PayPal scored itself a major prize - 70% ownership of the Chinese digital payments company, Gopay. This is a major milestone for the company as it means PayPal is the only non-Chinese provider that can offer online payments in the country. It allows the 270 million worldwide users to purchase items in made by Chinese suppliers and gives Chinese users another method to make online transactions outside of Alipay and WeChat Pay. With Chinese players allowing foreign users onto the platform, PayPal's entry into the market is certain to add a little spice to the online payments battle. I expect 2020 to bring a lot more news about PayPal and coming partnerships, especially with other retailers looking to crack the Chinese market.


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