NEW YORK -- U.S. payment company PayPal Holdings on Wednesday announced that it will acquire the Japanese "buy now, pay later" provider Paidy for about 300 billion yen ($2.7 billion).
PayPal aims to strengthen its business in Japan by adding new services to its key cross-border e-commerce payments. The full-fledged entry of a major overseas company is expected to intensify competition in Japan's payments sector.
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