Paytm may get 7% stake in Japan's PayPay
The digital payment app, Paytm may get a stake of 7% in Japan’s PayPay, two years after Paytm was given a call option to convert its holding into shares.
It was revealed in a regulatory filing by SoftBank which owns around 20% stake in One97 Communications. Paytm’s parent company is One97 Communications.
PayPay is a joint venture of SoftBank and Yahoo Japan with Paytm as a technology partner. It is a QR code based payments business. PayPay has nearly 40 million users and has seen 2 billion annual transactions.
Overall, SoftBank Group, which includes subsidiary Yahoo Japan, has more than 90% stake in PayPay.
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