SoftBank targeting IPO for payment app PayPay

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 illustate 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.