Opportunities and Challenges in China’s Buy Now Pay Later services

“Buy Now Pay Later” (BNPL) services, as the name suggests, allow consumers to make instant purchases but pay later in several small instalments. Its flexibility, the omnichannel application, and the wide adoption of online shopping attract the young generation and fuel the explosive growth worldwide. The global BNPL market records an explosive CAGR rise of […]

PayPal officially entered China’ online payment market

PayPal

On September 30, 2019, the state-owned People’s Bank of China approved PayPal’s acquisition of the majority stake of GoPay (国付宝 Guofubao) – a company running third-party payment platform in China. PayPal acquired 70% of GoPay’s equity interest through its China-based subsidiary, MeiYinBao Information Technology (Shanghai) Co., Ltd. (美银宝信息技术上海有限公司), and became the actual controller of GoPay […]