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SoftBank taps Paytm to launch mobile payments in Japan

PayPay Corp., a joint venture between SoftBank Group Corp. and Yahoo Japan Corp., has partnered with India’s largest payment services provider Paytm to launch barcode-based mobile payment services in Japan by November, the company said in a statement on Friday. The payments platform will be called PayPay and will help SoftBank build its mobile payment system and expand mobile payment in Japan. Japan is currently heavily dependent on cash as a mainstream payment option, with the cashless payments accounting for only 20% of overall transactions in the country. PayPay Corp. was established in June 2018. With the launch of PayPay, Yahoo Japan will terminate ‘Yahoo! Wallet’, its current smartphone settlement function. Softbank Group is one of the largest investors in Paytm.

Read More at Livemint News date : 27 Jul 2018, Friday

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