The news: PayPal signed an agreement to acquire Japan-based buy now, pay later provider Paidy for an estimated $2.7 billion (JPY300 billion), per a press release.
How Paidy works: Paidy lets customers pay for purchases in monthly installments via bank transfer (no fees) or at a network of convenience stores throughout Japan. The company also has products like short-term installment plan Paidy 3-Pay and Paidy Link, which lets customers connect their mobile wallet to their Paidy account—PayPal was the first wallet to integrate the solution.
PayPal’s opportunities: As Japan’s payments space evolves, PayPal sees a growth pathway through Paidy.
Related content: Check out the PayPal section of The Buy Now Pay Later Report for a deep dive into PayPal’s BNPL service and how it stacks up against incumbent BNPL players.
One Liberty Plaza9th FloorNew York, NY 100061-800-405-0844