Indian payment app Paytm on Monday said that it has launched it’s phone based payment service in Japan, PayPay.

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The ‘PayPay’ corporation, a joint project between SoftBank Corp. (‘SoftBank’), Yahoo Japan Corporation (“Yahoo Japan”) and Paytm (One97 Communications).

The news of Paytm’s invasion into Japan with Japanese web combination SoftBank initially surfaced in the last week stretch of July. In a release, Softbank confirmed the news and said that Yahoo Japan Corporation will likewise be a part of the joint project.

Madhur Deora, CFO and SVP, Paytm said,

“We are happy that the PayPay Corporation is utilising our QR-technology and prowess to enable cashless payments in Japan. We are sure this will give substantial growth to their business as they provide personalised and seamless digital payments experience to their customers. PayPay was developed with teams from three different countries working together, it is a true testimony for us and our industry-leading solutions that can be easily ported to suit the needs of any country or market.”

‘PayPay’ is a phone based payment app that enables users to store money from a bank in their ‘PayPay’ wallet and make payments with it. Launched in October 2018, ‘PayPay’ means to promote the cashless payment in Japan and to give exceptionally helpful services to the purchasers and subsidiary stores. Further, the stage use the QR-innovation from Paytm.

Ichiro Nakayama, President and Representative Director CEO, PayPay Corporation stated,

“It is a great strength to introduce Paytm’s high technology and solution to PayPay and I am confident that it will greatly contribute to the expansion of users in Japan.”

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