PayPal Enters Japan Through Softbank Joint Venture

What's Next In Payments®
7:00 AM EST 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
B2B Payments
eXelate Gets BPA Certification
B2B Payments
Fleet Telematic Firm Cuts Euro Deal
Apple Pay Tracker
Big Sales Expected For Apple On Black Friday
International
Holiday Shopping Starts Early For Global Shoppers
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
B2B Payments
eXelate Gets BPA Certification
B2B Payments
Fleet Telematic Firm Cuts Euro Deal
B2B Payments
In B2B Payments, Branding Is Huge
B2B Payments
French Payments: Paylib Partnering With Crédit Agricole
View All Articles ››