Fortune magazine published an article "Why PayPal's Approval to Enter China's Payments Market May Be Less Than It Seems " also pointed out that after PayPal entered China, it seems that there are not many opportunities to compete head-on with Alipay and WeChat Pay for the local market. Remember my log update on [2019-4-25 Update]? Let me flip it out: People are looking forward to PayPal's localization transformation in China Interpretation of the impact and future development of PayPal after obtaining a Chinese payment license from the perspective of cross-border entrepreneurship 1 Apparently, my gossip came true. In fact, as early as half a year ago, there were rumors that PayPal acquired.
Guofubao for 850 million yuan and obtained cross-border RMB payment and related licenses. It stands to reason that the source of the news can be regarded as relatively authoritative, but it has not been confirmed by the official and the media. It seems that there are still some procedures that need to be mobile number list completed. In this regard, PayPal is naturally tight-lipped and secretive. It has been like this for a long time, so that it is mistakenly thought that this is another hearsay and false news. As the world's largest online payment tool, whether PayPal can become the first foreign-funded company to obtain a Chinese payment license is of great significance.
As for why it has not released this news, many people speculate that it is mostly due to the impact of the Sino-US trade war. Just waiting for the right time. PayPal's entry into China has not attracted much attention, or most people don't know what PayPal can do to ordinary Chinese people. In fact, 90% of the market share of China's local payment market is shared by Alipay and WeChat Pay, and only 10% of the market is also competed by a bunch of payment companies. PayPal is the most widely used payment tool in the world. Before obtaining the license, more than 20% of PayPal's business income came from China. Now PayPal itself has its own talent for attachment, plus the dragon buff of cross-border RMB payment license, it stands to reason It is saidaudience and win the MVP. But the greater the hope, the greater the disappointment. In the final analysis, PayPal is still a veritable imported product.