This deal was announced by SoftBank, which owns a 20% stake in One97 Communications, the parent company of Paytm.
Paytm is in talks to acquire a 7% stake in Japan’s PayPay, two years after the Indian digital payment start-up was given a call option to convert its holding into shares.
This deal was announced by SoftBank, which owns a 20% stake in One97 Communications, the parent company of Paytm. PayPay is a QR code-based payments business that has seen 2 billion annual transactions from its 40 million users Overall, SoftBank Group, has more than 90% stake in PayPay. In India, SoftBank has backing start-ups like the digital commerce platform Meesho, etc. It is planning to invest a total of $1 Billion in Indian companies.
Indian digital payments firm Paytm is offering technological help to Japan’s payment application PayPay, which worldwide conglomerate SoftBank is planning to take public. Noida-based Paytm may likewise get some stake in PayPay.
Source: Business World
