PayPal to acquire Japanese payment service Paidy for $2.7 bil.

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Kyodo News

U.S. payments service provider PayPal Holdings Inc. said Tuesday it will acquire Japanese buy now, pay later venture firm Paidy Inc. for around $2.7 billion largely in cash, in a bid to strengthen its presence in the domestic payments market in Japan. The acquisition is expected to close in the fourth quarter of 2021, with PayPal hoping to tap into Paidy’s customer base of over 6 million registered users. “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 i…

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