PayPay Corporation (PayPay株式会社) is a Japanese company that develops electronic payment services owned by LY Corporation. It was established in 2018 as a joint venture between the SoftBank Group and Yahoo Japan through Z Holdings, their holding company.[1][2] With 38 million users, PayPay is the largest Japanese mobile payment app.[2] In October 2018, it began a QR code and bar code-based payment service, which was developed in collaboration with Paytm, an India-based payment 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 a QR code, or by having the clerk scan a bar code on the smartphone.