Born in 2018 as a project from LY Corporation, itself tied to Japan’s Softbank Group and Korea’s Naver Corporation, Paypay quickly grew to cover 63 million users and a two-thirds share of Japan’s QR code payments market. Softbank deployed a shoe-leather force of thousands to get people signed onto the new service. Just last month, Paypay launched a new service to let employers pay their workers digitally, boosting cashless transactions in a market that still remains fond of cash.
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- Fintech Innovators Asia