Doing business with Chinese domainers by way of PayPal should be coming soon.
PayPal is coming to China it looks like. TechCrunch reported that through an acquisition of Go Pay Ltd, PayPal will become the first foreign payment platform to provide service in China. The market is expected to grow to on the mobile payments side alone to $96.73 trillion in 2023, driven partly by increasing demand for e-commerce, a report from Frost & Sullivan found.
From the article:
The People’s Bank of China has approved PayPal’s acquisition of a 70% equity state in GoPay (Guofubao Information Technology Co. [GoPay], Ltd.), which will make PayPal the first foreign payment platform to provide online payment services in China. GoPay has licenses for online and mobile transactions, and mainly provides payment products for industries including e-commerce, cross-border commerce, aviation tourism and others.
