SoftBank targeting IPO for payment app PayPay

As part of its "Beyond Japan" strategy, SoftBank separately announced it is taking a 23% stake in the data analytics arm of Malaysia's Axiata Group.

TOKYO: SoftBank wants to list payment app PayPay, the CEO of its wireless unit said on Tuesday, adding that subsidiary SB Payment Service could also be a candidate for listing, as he seeks to illustrate growth potential at Japan's No.3 carrier.

QR code payment app PayPay has acquired almost 40 million users since launch in October 2018 through aggressive rebates as Japanese consumers shift away from cash.