Paytm provides technological support to Japan's payment app PayPay

SoftBank is aiming to take PayPay public; Paytm may also get some stake in the app

Indian digital payments firm Paytm is providing technological support to Japan’s payment app PayPay, which multinational conglomerate SoftBank is aiming to take public. Noida-based Paytm may also get some stake in PayPay.

PayPay is a QR (quick response) code-based payment app. It is a joint venture between SoftBank and Yahoo Japan, with Paytm as a technology partner. It was founded in June 2018. PayPay has nearly 40 million users and has witnessed 2 billion annual transactions. 

“We want PayPay to IPO in the future so that they would become independent,” said Junichi Miyakawa, who became chief executive of SoftBank Corp