Digital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Facebook X (Twitter) Instagram
Trending
  • Unlike Nigeria, Ghana Wins As MultiChoice Bows, Agrees To Reduce Subscription Fees
  • Zinox, KongaCares Launch Computerise Nigeria Initiative To Equip One Million Students With Laptops
  • Tanker Drivers Reject NUPENG Strike, Call Leaders ‘Economic Saboteurs’
  • Kaspersky Deepens Commitment To Nigeria With Strategic Cybersecurity Pact With NITDA
  • Just In: MTN Apologises As Fibre Cut Cripples Services In Enugu, Benue States
  • Nigeria Ready To Lead Future Economy – Inuwa Declares At GITEX 2025
  • ICT To Contribute 21% To Nigeria’s GDP By 2027 – Tijani
  • Lagos Attracts $6 Billion In Tech Investments – Sanwo-Olu
Facebook X (Twitter) Instagram
Digital Times NigeriaDigital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Digital Times Nigeria
Home » PayPal Takes Full Ownership Of Chinese Payments Business
Business

PayPal Takes Full Ownership Of Chinese Payments Business

DigitalTimesNGBy DigitalTimesNG15 January 2021No Comments2 Mins Read3 Views
Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
PAYPAL 6
Share
Facebook Twitter LinkedIn Pinterest Telegram Email WhatsApp

PayPal Holding Inc has become the first foreign operator with 100% control of a payment platform in China.

According to Chinese government data, this comes as the U.S. fintech giant eyes a bigger foothold in a booming market for online payments.

Reuters reports that PayPal acquired the 30% stake it doesn’t already own in China’s GoPay, formally known as Guofubao Information Technology Co., on Dec. 31, 2020, according to shareholder data from the National Enterprise Credit Information Publicity System.

Financial details weren’t disclosed in the data, according to Reuters.

The stake purchase came a year after PayPal bought a 70% stake in GoPay for an undisclosed amount, then becoming the first foreign company licensed to provide online payment services in China.

In taking full control of one of the smaller players in the world’s largest payment market, PayPal will compete with domestic payments giants Alipay, owned by Alibaba-affiliated Ant Group, and WeChat Pay, owned by Tencent Holdings Ltd, as China fully opens up its financial sector.

The stake purchase also comes amid Beijing’s antimonopoly campaign against Alibaba Group Holding Ltd and other Internet companies.

Last August, PayPal appointed Hannah Qiu as head of China business, responsible for formulating long-term strategy in the world’s second-biggest economy.

Qiu was a former executive at insurer Ping An Group’s fintech unit OneConnect, according to PayPal’s website.

PayPal said in its 2019 annual report its initial focus in China is to provide cross-border payment solutions to Chinese merchants and consumers, linking the country’s commerce ecosystem to PayPal’s global network.

READ ALSO  Gokada Promotes Nikhil Goel As New CEO
#China #GoPay #Ownership #Payments Business PayPal
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleREPORT: Mweb Up For Sale
Next Article MultiChoice Returns Special Step Up Offer On DStv, Discount On GOtv Max This January
DigitalTimesNG
  • X (Twitter)

Related Posts

Zinox, KongaCares Launch Computerise Nigeria Initiative To Equip One Million Students With Laptops

8 September 2025

Tanker Drivers Reject NUPENG Strike, Call Leaders ‘Economic Saboteurs’

8 September 2025

Nigeria Must Claim Its Seat In Global AI Economy, Experts Warn At GITEX 2025

4 September 2025

GITEX Nigeria: Dubai Tech Leader Declares Nigeria A Global Beacon Of Innovation

4 September 2025

NITDA DG Calls For Pan-African AI Collaboration At GITEX Nigeria 2025

3 September 2025

Zinox, KongaCares Partner To Unveil Groundbreaking “Computerize Nigeria” initiative At GITEX Nigeria

3 September 2025

Comments are closed.

Categories
About
About

Digital Times Nigeria (www.digitaltimesng.com) is an online technology publication of Digital Times Media Services.

Facebook X (Twitter) Instagram
Latest Posts

Unlike Nigeria, Ghana Wins As MultiChoice Bows, Agrees To Reduce Subscription Fees

8 September 2025

Zinox, KongaCares Launch Computerise Nigeria Initiative To Equip One Million Students With Laptops

8 September 2025

Tanker Drivers Reject NUPENG Strike, Call Leaders ‘Economic Saboteurs’

8 September 2025
Popular Posts

Building Explainable AI (XAI) Dashboards For Non-Technical Stakeholders

2 May 2022

Building Ethical AI Starts With People: How Gabriel Ayodele Is Engineering Trust Through Mentorship

8 January 2024

Gabriel Tosin Ayodele: Leading AI-Powered Innovation In Web3

8 November 2022
© 2025 Digital Times NG.
  • Advert Rate
  • Terms of Use
  • Advertisement
  • Private Policy
  • Contact Us

Type above and press Enter to search. Press Esc to cancel.