Paidy is a Japanese deferred

online payment An e-commerce payment system (or an electronic payment system) facilitates the acceptance of electronic payment for offline transfer, also known as a subcomponent of electronic data interchange (EDI), e-commerce payment systems have become increa ...

service (called

buy now, pay later Buy now, pay later (BNPL) is a type of short-term financing that allows consumers to make purchases while only initially paying for a portion of their value, postponing payment of the remainder of the debt until a future date, or dividing it into ...

) for online shops.

Corporate history

Established in March 2008 under the trade name of Exchange Corporation Co., Ltd., the main business was the social lending service "AQUSH". After launching the online payment service "Paidy" in October 2014, gradually shifted the focus of the business to "Paidy", and the social lending business closed new recruitment in June 2018. On September 7, 2021,

PayPal PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support E-commerce payment system, online money transfers; it serves as an electronic alter ...

Holdings Inc announced that it would acquire it for US$2.7 billion (about 300 billion yen).

Service overview

Paidy has partnered with an online shopping site to offer users a "deferred payment service" that can be used without a credit card. Payments made using Paidy will be combined into one (if used on multiple sites), and the billed amount will be notified to the registered mobile phone by the 3rd of the following month by email and SMS. The user pays the billed amount by bank transfer or convenience store payment by the 10th. (A remittance fee will be charged depending on the payment method. Also, automatic debit by direct debit is possible.) A service called "Paidy Plus" was launched in April 2020, which implements identity verification and usage limit setting functions. Currently available at over 700,000 stores including Amazon and Qoo10. Paidy is unusual among the world's buy-now-pay-later providers because it allows Japanese consumers to purchase items online and pay them off each month in person at local convenience stores.

References

{{Reflist PayPal Online payments Financial services companies of Japan 2021 mergers and acquisitions