Paypal Buys Japan-Based Paidy for $2.7 Billion
US payments giant PayPal is acquiring Paidy, a Japanese buy-now, pay-later (BNPL) firm, for $2.7 billion. The acquisition points to PayPal’s intent to continue to lead in a payments industry thriving during the pandemic.
This deal is PayPal’s foray into yet another new market. The company entered Australia last year, and rival Square recently followed suit with the acquisition of Afterpay Ltd. These moves show the market is clearly consolidating as online shopping volume increases, and demand for novel payment methods accelerates.