PayPal, after acquiring Japan's "Paidy" for 300 billion yen, a major payment
On September 7 (local time), PayPal of the United States announced that it would acquire Paidy, which provides the post-payment service "Paidy", for 300 billion yen (approximately $2.7 billion). The acquisition is scheduled to be completed in the fourth quarter of 2021. Aiming to strengthen cross-border e-commerce business in Japan and expand payment functions.
Paidy is a Japanese venture company that provides a deferred payment service without credit cards. You can register by entering your email address and mobile phone number, and you can pay the purchase price of the EC site etc. in the next month, and it also supports 3 installment payments. Over 6 million accounts. Among major e-commerce companies, Amazon Japan has introduced it, and it is also used by Apple Japan's own e-commerce.
PayPal was the first partner company to participate in "Anywhere Paidy" where Paidy can be used at Visa online merchants. Peter Kennevan, PayPal's head of business in Japan, said that the acquisition of Paidy "will build a strong foundation to further accelerate business development in Japan, which is a strategically important market."
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