PayPal actively launched acquisitions in Japan to expand its market

Asian Tech Press (Dec 29) -- PayPal CEO Dan Schulman said the company is developing a new growth strategy in Japan, focusing on more investments, partnerships and acquisitions to expand its business in the country.

PayPal already took a big step toward that goal this year with its acquisition of the Japanese "buy now, pay later" platform Paidy for about $2.7 billion. The CEO hinted at the possibility of more deals like that in the future, with plans to leverage existing brands and their assets in the market to expand its local payments business in Japan and other countries. Dan Schulman said there is a need for investment through partnerships as well as an openness to acquisitions.

Dan Schulman also wants to partner with Japanese financial institutions to provide a "one-stop banking" solution that combines PayPal's online fraud and risk management capabilities with the assets of financial institutions such as credit cards.

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