 | |
 Headquarters inChiyoda, Tokyo | |
Native name | PayPay株式会社 |
|---|---|
| Founded | June 15, 2018; 7 years ago (2018-06-15) |
| Headquarters | |
| Products | Electronic payment system |
| Parent | LY Corporation (SoftBank Group) |
| Website | paypay |
PayPay Corporation (PayPay株式会社) is a Japanese company that developselectronic payment services owned byLY Corporation. It was established in 2018 as a joint venture between theSoftBank Group andYahoo Japan throughZ Holdings, theirholding company.[1][2] With 38 million users, PayPay is the largest Japanesemobile payment app.[2] In October 2018, it began a QR code and bar code-based payment service, which was developed in collaboration withPaytm, an India-basedpayment service company.[3]
From a smartphone app, users link their bank account and add money to their PayPay account. At the point of sale, the user makes a payment either by scanning aQR code, or by having the clerk scan a bar code on the smartphone.[4][5]
PayPay's server fell victim to a hacking attack, originating in Brazil, on November 28, 2020. As per the operator of PayPay, a server containing personal and financial information of its entire userbase was compromised. The company acknowledged that configuration flaws led to unauthorized access to information. The service operator was later notified of the incident and preventive measures were taken.[6]
