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The Stage Is Set for a Tencent-PayPal Clash in Brazil

The Stage Is Set for a Tencent-PayPal Clash in Brazil

Tencent (TCEHY) has recently disclosed that it will invest $180 million for a minority stake in Brazilian financial technology company Nubank, known formally as Nu Pagamentos. Nubank is a provider of digital financial services, including payment processing. Tencent has said that its aim in becoming an investor in Nubank is to help the startup develop into a full-service finance platform for consumers.