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E-Commerce Global Tech

eBay’s Paypal: China Payment License in Sight

China’s regulators have never been known for moving fast on anything, and that case seems to apply even more when it comes to allowing foreign players into emerging markets like third-party payment services. More than two years after China began awarding licenses for its domestic companies to offer such, foreign companies are still waiting for equal rights in the lucrative domestic market. But now US e-commerce giant eBay (Nasdaq: EBAY) is saying it could soon become the first foreign licensee to enter the market, providing both a big opportunity, but also a major challenge, as it seeks to catch up to Chinese rivals with more than a two-year head-start.   More