法人別リリース

Shop Anywhere with “Single-Pay” and “3-Pay” Using New Paidy App

Paidy — Tue, 27 Jul 2021 15:00:00 +0900

TOKYO, July 27, 2021 /Kyodo JBN/ --
Paidy Inc.
Paidy Inc., Japan’s leading “Buy Now, Pay Later” provider, has announced the release of its new app that allows consumers to browse and discover the items they want across thousands of online merchants and use Paidy’s “Single-Pay” or “3-Pay” service to pay for their purchases.

Logo: https://kyodonewsprwire.jp/img/202107207927-O1-7b0W7KEn

Image: https://kyodonewsprwire.jp/prwfile/release/M106563/202107207927/_prw_PI2fl_1Z2Efa3d.jpg

With the new Paidy app, consumers can choose Paidy as their payment method at all online merchants that accept Visa. They can choose to pay next month, or in three interest-free(*1), monthly installments with 3-Pay. A “Shop & Discovery” feature has been built into the app, which allows consumers to browse stores and search for items. Consumers can also select categories they are interested in for suggestions of merchants and items that best suit their interests. By saving their favorite items in the “wishlist,” consumers can set up their own, personalized shopping plan. The entire shopping experience, from discovery to purchase, is completed entirely within the Paidy app.

The expansion of merchants that accept Paidy has been achieved through partnerships with Visa and Orico.

With the mission to “Take the hassle out of shopping,” Paidy aims to create an environment where everyone can shop wisely and enjoyably. Benefits such as the simple user experience, convenience of next-month single-pay or 3-pay payment, and the ability to manage their money wisely with their smartphone have attracted many consumers, with the number of accounts currently exceeding six million(*2). Paidy can be used at more than 700,000 online merchants, including Amazon and Qoo10, and with the launch of the Paidy Link service in April 2021, it is now possible to shop for the goods that they love at PayPal’s 31 million merchants around the world, all via PayPal checkout. The Paidy Plus for Apple, which launched in June and can be used to make purchases at Apple Retail Stores and the Apple Online Store, has also been well received. The revamping of its app symbolizes Paidy’s bid to go beyond a mere payment service to become the “shopping platform” that customers cannot do without. Mobile shopping is fast becoming standard, with close to 70% of online shoppers mainly using their mobile phone or smartphone to access online shopping services(*3). Paidy offers those consumers a more enjoyable and convenient shopping experience.

Russell Cummer, Founder and Executive Chairman of Paidy Inc., commented: “With the release of the new app, customers will be able to shop anywhere with Paidy. As well as paying for their purchases, they can enjoy the shopping experience itself from within the Paidy app. We believe that enjoyable shopping through Paidy’s super simple customer experience and the wise, comfortable choice of interest-free 3-pay payment will become the de facto standard for online shopping in Japan. Customers can look forward to even better things from Paidy as an innovator in E-commerce.”

Paidy will continue to update the shopping experience for its customers through the provision of innovative services.

Notes:
(*1) Interest-free installment payment is available only with account transfers or bank transfers.
(*2) including Taiwan business
(*3) From Hakuhodo Institute of Life & Living’s Chronological Lifestyle Survey (2020). Percentage of respondents who answered “mainly cellphone or smartphone” to the question, ”What device do you use to access (online shopping) services? (if you use the service)”

*Amazon is a registered trademark of Amazon.com, Inc. and its affiliates.

Paidy Launches "Paidy Link" to Instantly Link Paidy Accounts to Digital Wallets

Paidy — Fri, 16 Apr 2021 15:00:00 +0900

TOKYO, Apr. 16, 2021 /Kyodo JBN/ --
Paidy Launches "Paidy Link" to Instantly Link
Paidy Accounts to Digital Wallets
- PayPal Is Launch Partner and Paidy Account Holders Can Now Shop at PayPal’s 29 Million Merchants Worldwide -

Paidy Inc., Japan’s leading "Buy Now Pay Later" provider, which serves 700,000 online merchants in Japan, announced on April 16 Paidy Link, a new feature in the Paidy app, that allows users to instantly link digital wallets with their Paidy accounts. The first digital wallet to integrate with Paidy Link is PayPal with plans to expand in the future through cooperation with a variety of partners.

(Logo: https://kyodonewsprwire.jp/img/202104093510-O2-498Pa20m)

(Image: https://kyodonewsprwire.jp/prwfile/release/M106563/202104093510/_prw_PI1fl_iL56501G.jpg)

By using Paidy Link with PayPal, consumers in Japan can shop for the goods that they love at PayPal’s 29 million merchants around the world, all via PayPal checkout. Each purchase will be automatically converted into a Japanese yen purchase with Paidy that can be settled each month with Paidy "Atobarai," the Buy Now Pay Later service, or 3-Pay. This will allow Paidy users to manage their budgets easily and wisely within the Paidy app.

Paidy’s mission is to "take the hassle out of your payment and purchase experiences." It aims to create an environment where everyone can shop wisely and joyfully. With Paidy, customers can shop easily with just their mobile phone number and email address, and then pay the accumulated charges the next month. From October, 2020, Paidy also began offering 3-Pay, a service that allows customers to split charges into three equal, interest-free, monthly installments (*), which has been very well received.

Paidy Link is available in the Paidy app, as part of a service that includes 3-Pay, visible credit limits, and more. Customers can start using Paidy Link immediately by opening the Paidy app, and then following a few simple steps to link their Paidy account to PayPal.

Russell Cummer, Paidy Founder and Executive Chairman, said, "I am extremely excited to announce the launch of Paidy Link, offering a great new way for consumers to use their Paidy accounts for online shopping internationally. PayPal is an amazing partner for us to launch this functionality with and we are sure that our 5 million account holders will be thrilled to take advantage of the combined power of Paidy and PayPal. We look forward to working closely with PayPal to literally bring the world to our Japanese consumers."

Peter Kenevan, VP, Head of PayPal Japan, commented, "We are excited about our partnership with Paidy. This partnership allows Paidy users to have access to PayPal’s 29 million merchants -- in fashion, gaming, cosmetics and more -- from Japan and around the world. By linking their Paidy accounts to PayPal, consumers can enjoy much greater freedom and more choices from the comfort of their home."

About Paidy
Paidy is Japan's pioneer and leading BNPL service with the mission to spread trust through society and to give people room to dream. Paidy offers instant, monthly-consolidated credit to consumers by removing hassles from payment and purchase experiences. Paidy uses proprietary models and machine learning to underwrite transactions in seconds and guarantee payments to merchants. Paidy increases revenue for merchants by reducing the number of incomplete transactions, increasing conversion rates, boosting average order values, and facilitating repeat purchases from consumers. Paidy continues to innovate to make shopping easier and more fun both online and offline.
https://paidy.com/

(*) Interest-free installment payment is available with account transfers or bank transfers.

Source: Paidy Inc.

Paidy Raises US$120 Million in Series D Round

Paidy — Fri, 02 Apr 2021 15:00:00 +0900

TOKYO, Apr. 2, 2021 /Kyodo JBN/ --
Paidy Raises US$120 Million in Series D Round
Paidy Inc., Japan’s leading “Buy Now, Pay Later” (BNPL) service provider, is pleased to announce that it completed the Series D round of funding by March 31, 2021, raising a total of US$120 million from JS Capital Management LLC, Soros Capital Management LLC, Tybourne Capital Management Ltd., and Wellington Management. Since late 2020, Paidy has additionally completed the loan facilities set up by upsizing the warehouse facility with Goldman Sachs, newly establishing the secured loan facility with Sumitomo Mitsui Banking Corporation and the other warehouse facility through the syndication led by Mizuho Bank, Ltd. This capital increase and additional debt financing from the financial institutions bring total capital raising since the company’s founding to US$585 million (of which, equity is US$337 million, one of the largest amounts of funding ever raised by a startup in Japan).

(Logo: https://kyodonewsprwire.jp/img/202103313114-O1-v8Dv0Gp5)

(Image: https://kyodonewsprwire.jp/prwfile/release/M106563/202103313114/_prw_PI2fl_qt0N0Quw.jpg)

With the corporate mission to “Take the hassle out of your payment and purchase experiences,” Paidy aims to create an environment where everyone can shop wisely and joyfully. With Paidy, customers can settle easily with just their mobile phone number and email address, and then pay the accumulated charges the following month. Paidy has been used by a large number of customers since the launch of the service at the end of October 2014. As of March 2021, the number of websites accepting Paidy exceeds 700,000 in Japan and the number of consumer accounts exceeds 5 million (*1). Aiming to make the service more convenient, Paidy also recently began offering “3-Pay,” a service that allows customers to split charges into three equal, interest-free, monthly installments, (*2) which has been very well received.

The funds raised in the latest round will be used to expand transactions with large merchants, develop new services, and strengthen its balance sheet in response to the rapid expansion of "3-Pay."

Notes:
(*1) Including Taiwan business
(*2) Interest-free installment payments are available only with account transfers or bank transfers.

Russell Cummer, Founder and Executive Chairman of Paidy Inc., commented:
“Having the support of a powerful lineup including our existing shareholder JS Capital and Soros Capital of the United States and Tybourne of Hong Kong, and Wellington Management, makes me feel very encouraged about the future growth potential of a born-in-Japan startup that offers new values to the world. We intend to continue expanding our horizons and raising our sights. As our payment volume increases and ‘3-Pay’ is used by more and more customers, we are strengthening our financial base to secure our growth trajectory as a trusted brand and reliable business partner for our merchants.”

-Comments from investors participating in Series D:

James Chang, investment partner of JS Capital and Soros Capital (the family offices of Jonathan Soros and Robert Soros, respectively):
“As existing investors, we are pleased to support Russell, Riku Sugie and the entire Paidy management team with financial and strategic support by co-leading this financing round. Paidy’s team, brand, technology and network have grown tremendously since our initial investment, and we are excited about their prospects as a leader in BNPL services for both customers and merchants in Japan.”

Eashwar Krishnan, Managing Partner of Tybourne Capital Management:
“We are pleased to be investing in Paidy’s latest round, following our series C investment in the company in Japan. Paidy is building a world-class organization in the BNPL space in Japan and we have been very impressed with what the company has accomplished even before the recent round of investment and are excited about its future. As an investment firm, we are very focused on supporting Japanese startups as we believe that these young entrepreneurial companies will lead the pace of innovation in the country. We look forward to working with Paidy management for many years to come to build an enduring company.”

About Paidy
Paidy is Japan's pioneer and leading BNPL service with the mission to spread trust through society and to give people room to dream. Paidy offers instant, monthly-consolidated credit to consumers by removing hassles from payment and purchase experiences. Paidy uses proprietary models and machine learning to underwrite transactions in seconds and guarantee payments to merchants. Paidy increases revenue for merchants by reducing the number of incomplete transactions, increasing conversion rates, boosting average order values, and facilitating repeat purchases from consumers. Paidy continues to innovate to make shopping easier and more fun both online and offline.
https://paidy.com/