Paidy
{{Short description|Japanese online payment service}}
{{Expand language|topic=|langcode=ja|otherarticle=Paidy|date=September 2021}}
{{Infobox company
| name = Paidy
| logo = Paidy logo from 2023.png
| founded =
| founders =
| location = Japan
| revenue =
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| parent = PayPal
| website = {{URL|https://www.paidy.com}}
}}
Paidy is a Japanese deferred online payment service (called buy now, pay later) for online shops.
Corporate history
Established in March 2008 under the trade name of Exchange Corporation Co., Ltd., the main business was the social lending service "AQUSH". After launching the online payment service "Paidy" in October 2014,{{Cite web|date=2014-07-31|title=ExCo、約3.3億円の資金調達の実施と、カードレスのオンラインペイメントサービス「Paidy」をローンチ {{!}} BRIDGE（ブリッジ）テクノロジー＆スタートアップ情報|url=https://thebridge.jp/2014/07/paidy-release,%20https://thebridge.jp/2014/07/paidy-release|access-date=2021-09-08|website=thebridge.jp|language=ja|archive-date=2023-12-29|archive-url=https://web.archive.org/web/20231229151941/https://thebridge.jp/2014/07/paidy-release|url-status=live}} gradually shifted the focus of the business to "Paidy", and the social lending business closed new recruitment in June 2018.
On September 7, 2021, PayPal Holdings Inc announced that it would acquire it for US$2.7 billion (about 300 billion yen).{{Cite web|date=2021-09-08|title=米決済ペイパル、後払い新興のペイディを買収 3000億円|url=https://www.nikkei.com/article/DGXZQOGN081920Y1A900C2000000/|access-date=2021-09-08|website=日本経済新聞|language=ja|archive-date=2021-09-08|archive-url=https://web.archive.org/web/20210908022806/https://www.nikkei.com/article/DGXZQOGN081920Y1A900C2000000/|url-status=live}}
Service overview
Paidy has partnered with an online shopping site to offer users a "deferred payment service" that can be used without a credit card.{{Cite web|title=Boost for Japan ecommerce, with launch of Paidy payment method - Information portal|url=https://retail-loyalty.org/en/news/boost-for-japan-ecommerce-with-launch-of-paidy-payment-method/|access-date=2021-09-08|website=retail-loyalty.org|archive-date=2021-09-08|archive-url=https://web.archive.org/web/20210908101642/https://retail-loyalty.org/en/news/boost-for-japan-ecommerce-with-launch-of-paidy-payment-method/|url-status=live}}
Payments made using Paidy will be combined into one (if used on multiple sites), and the billed amount will be notified to the registered mobile phone by the 3rd of the following month by email and SMS. The user pays the billed amount by bank transfer or convenience store payment by the 10th. (A remittance fee will be charged depending on the payment method. Also, automatic debit by direct debit is possible.) A service called "Paidy Plus" was launched in April 2020, which implements identity verification and usage limit setting functions.{{Cite press release|author=|title=Shop Anywhere with 'Single-Pay' and '3-Pay' Using New Paidy App|url=https://www.prnewswire.com/news-releases/shop-anywhere-with-single-pay-and-3-pay-using-new-paidy-app-301341668.html|access-date=2021-09-08|website=www.prnewswire.com|language=en|archive-date=2021-09-08|archive-url=https://web.archive.org/web/20210908101637/https://www.prnewswire.com/news-releases/shop-anywhere-with-single-pay-and-3-pay-using-new-paidy-app-301341668.html|url-status=live}} Currently available at over 700,000 stores including Amazon and Qoo10.{{Citation needed|date=June 2024}}
Paidy is unusual among the world's buy-now-pay-later providers because it allows Japanese consumers to purchase items online and pay them off each month in person at local convenience stores.{{Cite web|title=PayPal to Buy Japanese Unicorn Paidy in $2.7 Billion Deal|url=https://finance.yahoo.com/news/paypal-acquire-japanese-unicorn-paidy-020000157.html|access-date=2021-09-08|work= Bloomberg| via=finance.yahoo.com|language=en-US|archive-date=2021-09-08|archive-url=https://web.archive.org/web/20210908050434/https://finance.yahoo.com/news/paypal-acquire-japanese-unicorn-paidy-020000157.html|url-status=live}}