Payments giant PayPal has taken full ownership of its GoPay platform in China.
In Brief:
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PayPal has acquired the remaining 30% of the business.
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It bought 70% of the business a year ago, becoming the first foreign payments provider in China.
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Now, it is the first foreign firm in the country with full ownership of its payments business.
What does this mean?
This is not just a huge milestone for PayPal, but a significant moment or a country that has traditionally been strict about foreign businesses, normally stipulating joint ventures with domestic companies.
