Society

PayPal to acquire Japanese payments firm Paidy

Sep 09 (NHK) - US online payments giant PayPal Holdings is moving to expand its presence in Japan's payments sector. The company is set to acquire Japanese "buy now, pay later" firm Paidy.

PayPal announced on Tuesday it will acquire Paidy for about 2.7 billion dollars.

It plans to complete the acquisition by the year end.

Paidy, with 6 million members, enables online shoppers to make payments after they buy, without credit cards. Users can do so with a mobile phone number and e-mail address.

The startup says artificial intelligence is used to quickly assess credit risks.

"Buy now, pay later" service providers are racing to take market share amid growing demand among young users in the US and Europe.

Last month, US company Square announced plans to acquire Australian startup Afterpay.

University of Tokyo Raises Tuition Fees for First Time in 20 Years

The University of Tokyo has officially decided to increase tuition by approximately 110,000 yen for incoming undergraduate students starting next academic year, bringing the total to 642,960 yen.

Japanese Ambassador Visits Dalian Following Student Death

Following the tragic stabbing and death of a child attending a Japanese school in China, Japanese Ambassador to China, Kenji Kanasugi, visited a local city to urge the Chinese government to ensure the safety of Japanese nationals residing in the area, as concerns grew among the local Japanese community.

Flooding Hits Temporary Housing in Quake-Stricken Wajima

Flooding has reached the temporary housing in Wajima City, built for earthquake victims, and volunteers have begun clearing the mud starting on September 24.

Russian military plane intrudes into Japanese airspace, Tokyo lodges protest

A Japanese government spokesperson says a Russian military airplane entered Japanese airspace three times on Monday. (NHK)

Kishida vows in meeting with Zelenskyy continued support for Ukraine

Japanese Prime Minister Kishida Fumio has conveyed his country's intention to maintain support for Ukraine to President Volodymyr Zelenskyy. (NHK)

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