PayPal heats up buy now, pay later race with $2.7 billion Japan deal

The News Craving

By Sayantani Ghosh and Anirudh Saligrama (Reuters) – U.S. payments giant PayPal Holdings Inc said it would acquire Japanese buy now, pay later (BNPL) firm Paidy in a $2.7 billion largely cash deal, taking another step to claim the top spot in an industry experiencing a pandemic-led boom. The deal tracks rival Square Inc’s agreement last month to buy Australian BNPL success story Afterpay Ltd https://www.reuters.com/technology/square-buy-australias-afterpay-29-billion-2021-08-01 for $29 billion, which experts said was likely the beginning of a consolidation in the sector. “The acquisition will …

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