Question: Paytm has recently launched a barcode-based Smartphone payment service ‘PayPay’, in which of the following country?
(a)Singapore
(b)Philippines
(c)Japan
(d)Indonesia
Answer: (c)
Related facts:
- Paytm has launched a QR-based smartphone payment settlement service in Japan in collaboration with SoftBank and Yahoo Japan Corporation.
- It is noticeable that Paytm is an Indian e-commerce payment system and digital wallet company, based out of NOIDA SEZ, India run by One 97 Communications Ltd.
- PayPay which has been incorporated in October 2018, allows users to store money from a bank account in their “PayPay” wallet and aims to promote the use of cashless payment in Japan. PayPay will give electronic money equivalent to ¥500 to each customer downloading the application and authenticating it with a valid Japanese mobile number.
- With the launch of “PayPay,” Yahoo Japan will terminate Yahoo! Wallet its current Smartphone settlement function.
- PayPay is build around the QR (quick-response) code technology that Paytm set up in 2015, which currently offers mobile payments to more than 350 million customers and over 9.5 million merchants.
- A QR code is a machine-readable label that contains information and after scanning the code, buyers can enter the payment amount and approve the payment.
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