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 claiming the top spot in an industry witnessing a pandemic-led boom.
The deal tracks rival Square Inc’s agreement last month to buy the Australian BNPL success story Afterpay https://www.reuters.com/technology/square-buy-australias-afterpay-29-billion-2021-08-01 Ltd for $29 billion, which experts said was likely the beginning of a consolidation in the sector.
