PayPal to enter China Market after a 70% stake acquisition in GoPay

PayPal Becomes The First Foreign Payment Platform In China

PayPal will become one of the first international companies to gain a payments license in China, after news emerged that the state-owned People’s Bank of China (PBOC) has greenlighted PayPal’s acquisition of a majority stake in local company GoPay. PayPal, through one of its local China-based subsidiaries called Yinbaobao, will acquire a 70% stake in GoPay, according to a statement on GoPay’s website [in Chinese]. The deal is expected to close in Q4 2019. The company’s full statement on the acquisition is below: The People’s Bank of China has approved…

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WhatsApp Users can now Call Without Internet thanks to Rwandan Made Prototype

It is easier for a WhatsApp user in diaspora to audio or video call or chat with his or her counterpart in Africa who has the same application than traditional telephone calls and text messages. The situation is the same for people who use Skype, Facebook Messenger, Viber and WeChat, to mention a few. But at the moment, the number of smartphone holders is very small in many developing countries especially in Africa. For instance, the number of smartphone holders in Rwanda is below 1.2 million. This challenges service providers…

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