SoftBank’s PayPay Files for US IPO
Hey Payments Fanatic!
SoftBank’s PayPay has confidentially filed with the SEC for a US IPO of its American depositary shares. The timing, size, and price are still undecided, with the listing subject to market conditions and SEC review.
SoftBank has been moving to monetize assets, including a recent $3B sale of T-Mobile US shares, to fund Masayoshi Son’s push into AI. PayPay will remain a SoftBank subsidiary post-listing, and the company doesn’t expect any material impact on its consolidated earnings.
Scroll down for the rest of today’s payments headlines and enjoy your week.
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NEWS
🇺🇸 SoftBank’s PayPay submits filing to the US SEC for listing of ADRs. The exact schedule, size, and price for the public listing of PayPay’s American depositary shares are yet to be decided. The feasibility of a listing is subject to market and other conditions and is contingent on the completion of the SEC’s review, SoftBank said in a statement.
🇺🇸 Jack Henry's Initial launch of Tap2Local will empower financial institutions and their SMB customers with fast, seamless digital payments. Developed in collaboration with Moov, a modern digital payments processor, the cloud-native Tap2Local solution offers merchants many distinguishing features.
🇬🇧 Swiipr launches welfare 'eco-card' for travelers. Swiipr’s Mastercard welfare cards enable airline ground staff to instantly distribute food and beverage payments when flights are delayed, offering instant, secure, and compliant payouts that have universal retail compatibility.
🇨🇳 Sunrate secures license to operate in China. This acquisition represents a strategic step in SUNRATE’s ongoing commitment to enhancing its global licensing framework and ensuring compliant operations in all jurisdictions, whether through direct licensing or strategic partnerships.
🇿🇦 Network International expands portfolio with Absa Bank. Through this collaboration, services will include card management for fleet cards and commercial prepaid cards, transaction switching and authorisation, integration with fleet management software, and direct connectivity to Absa Bank systems.
🇺🇸 Worldpay and Trulioo collaborate on safeguards for agentic AI commerce. This collaboration aims to bring trust, consent, and accountability to the rapidly evolving landscape of digital payments driven by artificial intelligence. Read more
🇨🇳 RayNeo and Ant Group partner to advance AR glasses innovations in payments. Beginning with in-store payment scenarios, the augmented reality pioneer will collaborate with Ant Group to explore AR glasses solutions for a diverse range of applications, including everyday services and cross-border payments.
🇺🇸 Growfin partners with Zuora to transform accounts receivable for the enterprise. The collaboration will help enterprise companies tap into the power of AI to transform their quote-to-cash operations to support modern monetization strategies.
🇨🇦 Royal Bank of Canada and Bank of Montreal explore $2bn sale of Moneris payments business. RBC and BMO have brought in advisors to explore a potential sale of the business, which generates approximately $700 million in annual revenues. Keep reading
🇬🇧 TerraPay and Whish Money partner on cross-border payments. The partnership leverages TerraPay’s expansive global market access to enable both sending and receiving of cross-border payments, offering Whish users an end-to-end remittance experience that is reliable, secure, and faster than traditional channels.
🇺🇸 Routable teams up with FedNow for expanded instant payments coverage. According to the Co-Founder and CEO of Routable, the integration of FedNow significantly enhances the company’s coverage for instant payments, allowing it to better support its customers.
🇺🇸 GPN partners with Tampa Bay Lightning for arena transactions. This collaboration is part of GPN’s expanding portfolio of stadiums and venues, now facilitating transactions in more than 160 locations around the globe, covering every major U.S. sports league and some of the most famous international stadiums.
🇿🇦 Street Wallet secures $350K to bring cashless payments to South Africa’s informal economy. The fresh capital will be leveraged to deepen market penetration, fuel higher sales growth, and expand the company’s footprint across South Africa. Read more
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