TOKYO (Reuters) – SoftBank Group Corp said on Friday it will team up with India’s Paytm to launch a digital payments service in Japan.
FILE PHOTO: People walk behind the logo of SoftBank Corp in Tokyo December 18, 2014. REUTERS/Toru Hanai/File Photo
SoftBank, which has invested in Paytm, said the service will be launched in autumn through a joint venture with Yahoo Japan Corp.
Japan is lagging far behind other countries in areas such as fintech, SoftBank Chief Executive Masayoshi Son said last week. The Japanese government is trying to promote the uptake of digital payments.
Technology firms, telecoms operators and banks are increasingly offering such services in Japan.
Reporting by Sam Nussey, Editing by Sherry Jacob-Phillips