India’s PayTM is Japan’s PayPay & taps 8 m users already in japan
India’s biggest mobile payments company, Paytm, now has 8m customers in Japan, its founder has said, as Indian tech companies continue to push overseas.
Paytm, which is backed by SoftBank, Alibaba and Berkshire Hathaway, formed a joint venture in October last year with SoftBank and Yahoo Japan called PayPay.
Until recently, Japanese customers have been loyal to cash and wary of contactless transactions. However, in a campaign to attract new users, PayPay offered a total ¥10bn ($90m) in rebates of up to 20 per cent on purchases, capped at ¥1,000 per payment.
source & Details:
https://www.ft.com/content/7338948c-a20a-11e9-974c-ad1c6ab5efd1
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