PayPal Enters Japan Through Softbank Joint Venture

What's Next In Payments®
7:00 AM EDT May 9th, 2012

PayPal is set to acquire a substantial piece of the payments business in Japan, thanks to a new joint venture partnership with Softbank, according to an official statement.

PayPal and Softbank have each committed $12.5 million to PayPal Japan, which will be led by Softbank SVP and Director of Softbank Mobile Corp. Hiroaki Kitano. Each of the two firms will place three directors on the joint venture’s board, the statement says.

The key solution PayPal will use to grow its first-ever joint venture effort will be PayPal Here, in a nation where smartphone usage is widespread. “I am delighted to partner with PayPal and look forward to combining resources to bring PayPal Here to Japan,” said Masayoshi Son, chairman and CEO of Softbank, in the release.

Read the full release here.

Comments
Also by This Author
What's Hot
Mobile Commerce
MasterCard CEO: MasterPass Starts Where Apple Pay Stops
News
Credit Unions, Retail Groups Finger-Pointing On Payment Security
Merchant Innovation
Q3 Results Highlight Groupon’s Growing Pains
International
Alibaba Protects Its 11/11 “Singles Day” Turf
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Apple Pay Tracker
USA Today Compares MCX To The Three Stooges. Unfavorably
Apple Pay Tracker
Apple Pay Faceoff
International
Korean Tech Companies Shifting B2C Focus to B2B Market
Mobile Commerce
MasterCard CEO: MasterPass Starts Where Apple Pay Stops
View All Articles ››