Founding Vision

Paidy was founded because, while credit card penetration is high in Japan, credit card usage is generally low, especially in online shopping. Instead, shoppers are used to paying for goods on delivery or paying cash at convenience stores, which serve as logistics hubs and payment centers in many Japanese cities.

Operational Model

Paidy makes "online payment + no credit card payment" possible. If merchants use Paidy , customers can enter their mobile phone number and email address to check out, authenticate through SMS or voice, and complete the payment, similar to a virtual credit card. In order to make it more convenient for users to use, Paidy provides a variety of repayment methods. Consumers can settle their bills every month through convenience stores, bank transfers or automatic debits.

Financing

Paidy received US$ 3.3 million in Pre-A round of financing.

In July 2016 , Japanese e-commerce payment platform Paidy announced the completion of a US$ 15 million Series B financing round, led by Eight Roads Ventures and SoftBank affiliates SBI Holdings and SBI FinTech Business Innovation LPS , with participation from Itochu , SIG Asia and Arbor Ventures .

In July 2018 , Paidy just announced that it had received US$ 55 million in Series C financing, led by Japanese trading group Itochu Corporation and followed by Goldman Sachs.

In August 2018 , Japanese fintech startup Paidy recently received a strategic investment from payment giant Visa , with the amount of financing not disclosed.

References

• 1. Japanese Fintech startup Paidy receives $55 million in Series C funding: Sohu [cited on 2018-07-12T16:00:00.000Z]
• 2. To enable people to shop online without credit cards, Japanese financial technology company Paidy receives strategic investment from Visa: Baidu [cited on 2018-08-25T16:00:00.000Z]
• 3. Japanese e-commerce payment platform Paidy received $15 million in Series B funding, with SoftBank participating: 36kr [cited on 2016-07-28T16:00:00.000Z]