SoftBank and PayPay said to be in talks to invest in Seven & i
Japan’s biggest payments app and its most famous convenience-store chain may be about to get closer. SoftBank and its payments arm PayPay are in talks to invest in Seven & i Holdings, the retailer behind 7-Eleven, according to Bloomberg, which reported the discussions on Friday. Neither the size nor the structure of any deal has been disclosed, and the talks may not lead anywhere.
The logic, if a deal comes together, is not hard to trace. PayPay already runs a partnership with Seven-Eleven Japan that lets shoppers link accounts and earn points across both, and a formal investment would deepen a relationship between a payments network and one of the busiest retail footprints in the country.
PayPay is no longer just an app inside SoftBank. It listed on Nasdaq in March, raising close to $880m in the largest US flotation by a Japanese company in a decade, and closed its...
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