U.S. payments giant PayPal Holdings Inc said it would acquire Japanese buy now, pay later (BNPL) firm Paidy in a $2.7b largely cash deal, taking another step to claim the top spot in an industry experiencing a pandemic-led boom.
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PayPal's $2.7b Japan deal heats up buy now, pay later race
"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," PayPal said in a statement on Tuesday.
