People’s Bank of China (PBOC), the state-owned bank, gave the nod to Paypal Holdings Inc (NASDAQ:PYPL) to acquire a stake of 70% in GoPay. Paypal would become the first International Company to get the license for payment processing in China. The company would acquire the majority stake in GoPay through a China-based subsidiary – Yinbaobao. […]
People’s Bank of China
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