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Paytm to get 7% stake in PayPay
May 13, 2021
Paytm is probably going to get about 7% stake in Japan’s PayPay, two years after the Noida-based organization was given a call option to change over its holding into shares.
This was revealed in a regulatory filing on Wednesday by SoftBank, which claims around 20% stake in One97 Communications, the parent entity of Paytm.
PayPay is a QR code-based payments business and is a joint venture among SoftBank and Yahoo Japan, with Paytm as a technology partner. PayPay has almost 40 million clients and has seen 2 billion yearly transactions.
Generally speaking, SoftBank Group, which incorporates subsidiary Yahoo Japan, has over 90% stake in PayPay. Spokespersons for Paytm and SoftBank didn’t offer additional comment.
On Wednesday, SoftBank Group announced final quarter benefit of almost $37 billion, generally on the rear of its Vision Fund recording gains on its interest in online business firm Coupang, which had a US posting in March.
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