The Chinese government has lifted a ban on foreign online stores. Previously foreign online retailers were not allowed into the Chinese market.
Actually prohibiting law said that 50% of the shares in foreign online stores had to belong to a local company presence on the Chinese market. This law successfully bypassed by entering into transactions with controlled Chinese shareholders.
After removal of the ban international companies no longer have to use this tactic. Now the Internet giant Alibaba, which controls 80% of the Chinese online market, appears worthy competitors. In 2015, the Chinese people will be available the services of eBay, Amazon and other online retailers.
Last week Softcard, owned by AT&T, Verizon and T-Mobile USA, fired more than 60% of the workforce. The remaining employees were ordered to stop work until such time as searching for a buyer for the company.
Recently Google has entered into exclusive negotiations with Softcard, offering to buy the company for at least $50 million in Addition to the Internet giant, their interest in acquiring payment service expressed PayPal. Owners Softcard prefer Google because they are all distributors of smartphones that use the Android operating system.
The press service of Google, AT&T, Verizon, T-Mobile, PayPal and Softcard declined to comment.
Google has its own mobile payments service Wallet. He was a pioneer in this area, but gained little popularity among users due to the fact that Internet company failed to cooperate with wireless carriers type Verizon.
Telecom companies have created Softcard, formerly known as Isis, has its own payment service, designed to compete with Google Wallet. However, he was not popular among consumers.
Starting Pay Apple in October 2014 and its success among traders and buyers has forced Google and Telecom companies to immediately begin negotiations for the purchase of Softcard.
The original version of Google Wallet included advertising system, which would use the shopping in offline stores to improve targeting digital advertising. Google had planned to share a part of their advertising revenue with wireless carriers, but the company was not able to come to an agreement on this issue.
Purchase Softcard Internet company can revive these transactions and improve the position of Google and Telecom companies in competition with Apple Pay.
Recall that according to the forecasts of ITG Investment Research Pay Apple will overtake Google Wallet on the volume of transactions at the end of January 2015.