Home Just In PayPal to acquire Japanese BNPL firm Paidy for $2.7bn

PayPal to acquire Japanese BNPL firm Paidy for $2.7bn


PayPal has agreed to acquire Paidy, a two-sided payments platform and provider of buy now, pay later ( BNPL) solutions in Japan, for approximately US$2.7 billion.

The acquisition will expand PayPal’s capabilities, distribution and relevance in the domestic payments market in Japan, the third largest ecommerce market in the world, complementing the company’s existing cross-border ecommerce business in the country.

Following the acquisition, Paidy will continue to operate its existing business, maintain its brand and support a wide variety of consumer wallets and marketplaces. Russell Cummer, founder and executive chairman of Paidy, and Riku Sugie, president and CEO of Paidy, will continue to lead the Paidy team.

Peter Kenevan, vice president, head of Japan at PayPal, said, “Combining Paidy’s brand, capabilities and talented team with PayPal’s expertise, resources and global scale will create a strong foundation to accelerate our momentum in this strategically important market.”

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