{"id":16997,"date":"2021-09-08T09:03:47","date_gmt":"2021-09-08T16:03:47","guid":{"rendered":"https:\/\/marketdepth.com\/?p=16997"},"modified":"2021-09-10T09:16:12","modified_gmt":"2021-09-10T16:16:12","slug":"paypal-announces-plan-to-acquire-paidy-for-usd-2-7-billion","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/paypal-announces-plan-to-acquire-paidy-for-usd-2-7-billion\/","title":{"rendered":"PayPal Announces Plan to Acquire Paidy for USD 2.7 Billion"},"content":{"rendered":"\n

PayPal Holdings, Inc. (NASDAQ: PYPL) has announced<\/a> that it will acquire Paidy.\u00a0 The two sided payments platform and provider of buy now, pay later solutions in Japan will be purchased for USD 2.7 Billion in cash.\u00a0 This acquisition will expand PayPal\u2019s distribution and relevance in the domestic payments market in Japan.\u00a0 “Paidy pioneered buy now, pay later solutions tailored to the Japanese market and quickly grew to become the leading service, developing a sizable two-sided platform of consumers and merchants,” said\u00a0Peter Kenevan, vice president, head of\u00a0Japan\u00a0at PayPal. “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.”<\/p>\n\n\n\n

Expanding in Japan<\/h5>\n\n\n\n

Paidy\u2019s payment services offer Japanese shoppers the opportunity to make purchases online and pay for them each month in a consolidated bill at a convenience store or via bank transfer.\u00a0 The technology behind this is utilized to score creditworthiness, guarantee payment to merchants and underwrite transactions.\u00a0 “There is no better home for Paidy to continue to grow and innovate than PayPal, which has been removing friction from online shopping for more than 20 years,” said\u00a0Russell Cummer, founder and executive chairman of Paidy. “Japan\u00a0has been a vibrant environment for our growth to date and we’re honored to have our team’s hard work and potential recognized by a global leader. Together with PayPal, we will be able to further achieve our mission of taking the hassle out of shopping.”<\/p>\n\n\n\n

“Paidy is just at the beginning of our journey and joining PayPal will accelerate our plans to expand beyond ecommerce and build unique services as the new shopping standard. PayPal was a founding partner for Paidy Link and we look forward to working together to create even more value. Thank you to our community of merchants and users who helped us get to this important milestone.”<\/p>Riku Sugie, president and CEO of Paidy<\/cite><\/blockquote>\n","protected":false},"excerpt":{"rendered":"PayPal Holdings, Inc. (NASDAQ: PYPL) has announced that it will acquire Paidy.\u00a0 The two sided payments platform and provider of buy now, pay later solutions in Japan will be purchased for USD 2.7 Billion in cash.\u00a0 This acquisition will expand PayPal\u2019s distribution and relevance in the domestic payments market in Japan.\u00a0 “Paidy pioneered buy now,… View Article<\/a>","protected":false},"author":3,"featured_media":16998,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[31,17,11,7,16],"tags":[],"acf":[],"yoast_head":"\nPayPal Announces Plan to Acquire Paidy for USD 2.7 Billion - MarketDepth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/marketdepth.com\/paypal-announces-plan-to-acquire-paidy-for-usd-2-7-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PayPal Announces Plan to Acquire Paidy for USD 2.7 Billion - MarketDepth\" \/>\n<meta property=\"og:description\" content=\"PayPal Holdings, Inc. 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