The third quarter saw PayPal reinforcing its mobile payments segment with strategic acquisitions such as Zong.

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At the recent Forbes Global CEO Conference in Sydney, I chaired a panel on leadership that included Zong.

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The acquisition follows Paypal's purchase of another smartphone-based payment service, Zong, last year.

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A. Zong has little formal education and has come up the hard way.

FORBES: Zong Qinghou Is Back As China's Richest Man: What's Next For Wahaha?

Zong chairs the privately held Wahaha, the country's top homegrown beverage company.

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To have done the Danone joint venture deal as early as Zong did in 1996 showed a lot of instinctual commercial guts and no fear of bigger, richer foreigners.

FORBES: Zong Qinghou Is Back As China's Richest Man: What's Next For Wahaha?

Groupe Danone ( DA - news - people ) agreed to sell its 51% interest in its joint ventures to its former partner, Chinese beverage tycoon Zong Qinghou's Hangzhou Wahaha, which finally ended all legal proceedings related to trademark and business disputes between the two parties.

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