Recently, the People’s Bank of China approved the application for the change of equity of Guofubao. PayPal acquired 70% of the equity of Guofubao through its subsidiaries and entered the third-party payment market in China.
文 | Daily Business Collection
PayPal curve into China, and Alipay WeChat cross-border e-commerce
Recently, the People’s Bank of China approved the application for the change of equity of Guofubao. PayPal acquired 70% of the equity of Guofubao through its subsidiaries and entered the third-party payment market in China. Guofubao has many “passports” such as third-party payment licenses, fund payment licenses, and cross-border RMB payment business licenses.
PayPal is the world’s leading third-party payment company with operations in more than 200 countries and territories, supporting more than 100 currency transactions. After PayPal entered the Chinese market, although it is difficult to instigate Alipay and WeChat, which hold more than 90% of the domestic third-party payment market share, it has obvious advantages in cross-border payment.
The current megatrend is offline retailing into the winter, online retail growth, and the scale of China’s e-commerce transactions is increasing year by year, driving the development of cross-border e-commerce. Prospective Industry Research Institute forecast…
Editor’s comment: PayPal actually came to China as early as 2005. Five years later, due to the third-party payment market regulation, PayPal, which has not obtained identity authentication, has to withdraw, and then from international receipts. Cut in, launched in China…
This article is from the paid section “Daily Business Featured” – October 11
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