PayPal becomes 1st foreign firm to fully own payments business in China
US fintech platform PayPal has become the first foreign firm to have 100% control of a payments business in China. PayPal recently bought the remaining 30% stake in China's GoPay, after it acquired 70% stake in it a year ago. In 2019, PayPal had said its initial focus in China is to provide cross-border payment solutions to Chinese consumers. 