China's central bank has approved PayPal's acquisition of a 70% equity interest in GoPay, the companies announced Monday. PayPal says this makes it the first foreign firm licensed to provide digital payment services in China. The terms of the deal, which is expected to close by the end of 2019, have not been disclosed, a PayPal spokesperson said.
China gives American Express first shot at its huge payments marketRead MoreThe deal opens the door for PayPal to process digital transactions in China — which are estimated to total in the trillions. But it may not be an easy market to break into.
Time to quit PayPal China still using information from United States Office of Personnel Management, the final estimate of the number of stolen records is approximately 21.5 million. Social Security numbers, as well as names, dates and places of birth, and addresses.
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