PayPal was one of several corporates to invest in Paidy before agreeing this week to purchase the consumer finance service provider.
Japan-based consumer finance service Paidy agreed yesterday to be acquired by one of its shareholders, digital payment processor PayPal, for about $2.7bn.
Founded in 2008, Paidy provides a buy-now-pay-later service that allows customers to make instant credit purchases that can be paid back on a monthly basis. PayPal will use the acquisition to strengthen its capabilities and presence in the domestic payments market in Japan.
Peter Kenevan, head of Japan for PayPal, said: “Combining Paidy’s brand, capabilities and talented team…
