PayPal to foray into China through local acquisition

PayPal to foray into China through local acquisition

Photo: Reuters

U.S. digital money transfer platform PayPal Holdings Inc has obtained Beijing’s approval to buy a controlling stake in a domestic payments firm, which would make PayPal the first foreign firm to enter China’s payment services market.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter