PayPal is the first foreign firm to own a 100% stake in a payment platform in China, having obtained a licence to operate in the country a year ago.
January 14, 2021PayPal's acquisition of a majority stake in Gopay gives it access to licences that allow it to offer online, mobile and cross-border renminbi payments.
December 24, 2019The PBOC has approved PayPal’s acquisition of a majority stake in domestic payments firm Gopay, giving it access to various domestic payments licences.
October 1, 2019Alipay, Union Mobile Financial Technology, and Gopay.com were fined more than a combined $11 million for various breaches in payment services regulation.
August 9, 2018