Visa Inc. is in discussions with Japanese payments firm PayPay to facilitate the latter's entry into the U.S. market. The companies are considering the formation of a new joint venture to manage the expansion.
This move would represent the first international venture for PayPay, a subsidiary of SoftBank Group. The firm currently operates a dominant QR code-based smartphone payment service in Japan.
The potential collaboration seeks to integrate PayPay’s mobile technology with Visa’s established U.S. network and brand recognition. Discussions are currently under consideration, and the companies have not yet announced a definitive agreement.