What's New in Payments

Softbank-backed PayPay to update mobile payments app ‘after wrongful charge complaints’

Japan’s PayPay to update app after wrongful charge complaints — Bloomberg — “An unspecified number of customers called in and e-mailed to report charges on their bills that they didn’t recognize, according to PayPay spokesman Fumihiro Ito. Several consumers say they hadn’t even installed the app but their credit cards were billed for purchases they didn’t make… PayPay triggered a shopping frenzy earlier this month by promising to give users 10bn yen (US$88m) in rebates from their purchases.”



What's New in Payments

SoftBank to enter Japanese mobile payments market with Paytm technology and three years’ free processing offer

SoftBank and Yahoo Japan JV to launch ‘PayPay’, barcode-based smartphone payment services in collaboration with India’s Paytm in the fall — SoftBank — “PayPay Corporation, a joint venture established by SoftBank Corp and Yahoo Japan Corporation, today announced that the company will launch ‘PayPay’ smartphone payment services using barcodes (QR code) in fall 2018. PayPay Corporation will team up with India’s largest digital payment company Paytm, a SoftBank Vision Fund portfolio company, to utilize Paytm’s technology and expertise in mobile payments… The service will be free to affiliate stores for the first three years from its launch.”


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