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Google to buy payment firm Pring

July 14, 2021

Google to buy payment firm Pring

Alphabet’s Google has agreed to buy payments firm Pring from backers including fintech firm Metaps as the U.S. tech giant pushes into Japan’s quickly developing business sector for cashless services.

The startup’s three top investors – Metaps, programming organization Miroku Jyoho Service and Nippon Gas reported on Tuesday they would sell their combined 87% holding in Pring to Google.

Metaps said it is selling its 45% stake for 4.9 billion yen ($44 million).

Google has worked its smartphone payments business presently called Google Pay -in Japan since 2016. Tech organizations, for example, SoftBank Group and Rakuten Group just as financial firms are encouraging Japanese customers to move away from a deep-seated preference for cash.

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