To tap into this market, PayPal purchased a 70% stake in China-based online payments company GoPay in the fourth quarter of 2019. This made the company the first foreign entity to attain a license to provide online payment services in China. During the fourth-quarter earnings call, CEO Daniel Schulman commented, "Digital payments in China are expected to grow from $1.5 trillion to $3 trillion over the next four years, and the number of users is set to grow to well over one billion." This opportunity will serve as a strong tailwind that PayPal can ride out to maintain its impressive growth streak.