PayPal completed the acquisition of a 70% stake in GoPay.

PayPal, a payment service provider, completed the acquisition of a 70% stake in GoPay Information Technology, a provider of online payment and services in China. Financial terms were not disclosed. "We're pleased to complete this historic transaction, which enables us to broaden our participation in such a dynamic market. This important step will allow us to be a stronger partner to Chinese financial institutions and technology platforms. We look forward to contributing to the growth of China's e-commerce and payments ecosystem," Dan Schulman, PayPal president, and CEO.