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PayPal acquires Japan’s BNPL platform Paidy to spread its reach to the APAC region

PayPal, a US-based fintech giant, has acquired Paidy, a Japanese Buy-now-pay-later platform, for about $2.7 billion. This acquisition will allow PayPal to expand its financial services to the APAC region and serve the third-largest e-commerce market in the world. As an investor reported, shopping volume in Japan has more than tripled to around $200 billion in the last decade. PayPal can capitalize on this opportunity by providing seamless digital transactions services. Paidy was founded in 2018 and has around 6 million Japanese users. In other news, Space, an app owned by Twitter CEO, has acquired the Australian BPNL platform AfterPay for $29 billion.

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