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Japan payment app PayPay to stop accepting outside credit cards

SoftBank-backed service to challenge Rakuten in card transactions

PayPay seeks to increase transactions on its own credit cards by excluding rival cards. 

TOKYO -- SoftBank-backed mobile payment service PayPay will ban the use of outside credit cards on its app later this year in favor of its proprietary card, as the company seeks to close the gap with rival Rakuten Group in credit card transactions.

New registrations of cards other than PayPay's will be halted from July, and all use of other cards will be declined from August.

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