Visa makes Series C strategic investment in Japanese fintech Paidy

Visa credit cards are displayed in Washington October 27, 2009. REUTERS/Jason Reed

Global payment tech firm Visa, has made a strategic investment in Japan’s post-pay credit service provider, Paidy, joining the Series C round of investment of the fintech startup, according to an announcement.

The financing from Visa will add to Paidy’s $55 million Series C round announced in July, led by Itochu Corporation, a Japanese conglomerate with participation from Goldman Sachs.

In Japan where credit card usage is low compared to the number of cards people have in hand, Paidy has taken the advantage of the situation by allowing users to shop online without using a credit card.

People can buy online without creating an account or using a credit card. Instead they can use a mobile phone number and email to settle the bill once a month to the merchant that uses Paidy.

The investment comes when Visa is looking at supporting new developments in the payments space, which is increasingly moving cashless.

“In Japan there is enormous opportunity to bring consumers more options to pay, whether all at once or in instalments, especially when shopping across multiple channels. We look forward to this partnership to deliver these kind of new experiences,” said Chris Clark, regional president, Asia Pacific, Visa.

Paidy, which claims to have 1.5 million users, raised $15 million in its Series B round.

Previous investments of Visa include Israeli firm Behalf that gives capital to SMEs, and Payworks, a German payment technology company.

Also Read:

Japanese fintech startup Paidy raises $55m Series C from ITOCHU, Goldman Sachs

Japan: Money Forward raises $11m, seeks global expansion of fintech biz

Japan Digest: Paidy raises $15m Series B; Abeja secures $5m funding

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.