Home > > PayPal to work on China's cross-border payments without fighting Alipay, WeChat Pay

PayPal to work on China's cross-border payments without fighting Alipay, WeChat Pay

04/21/2021| 10:28:39 PM|

U.S. fintech company plans to launch a domestic wallet in China that will not compete with the dominant local players.

PayPal is planning to launch a local wallet in China that will focus on cross-border payments, CNBC reported on Monday citing Hannah Qiu, the China CEO for PayPal.

Qiu told CNBC that the U.S. fintech company is planning to launch a domestic wallet in China that will not compete with the dominant local players such as Alipay and WeChat Pay for domestic payments but will focus on cross-border payments. 

In January this year, the U.S. fintech company became the first foreign firm to have 100% control of a payment platform in China by acquiring a 30% stake it did not already own in GoPay. But until now, PayPal has been quiet on its plans. 

TAGS: PayPal | Alipay | WeChat Pay | GoPay
©2020 广州力矩资讯科技有限公司 粤ICP备06070077号
Tell us more about yourself!