PayPay, a leading QR code payment service, debuted on the U.S. Nasdaq market with a market capitalization of approximately 1.9 trillion yen.
On the 12th, PayPay, a major player in QR code payments in Japan, made its debut on the U.S. Nasdaq market. The initial public offering (IPO) was priced at $16, but it opened at $19, representing an 18.7% increase over the offering price. By the end of the trading day, PayPay's stock was valued at $18.16, giving it a market capitalization of about $12.1 billion (approximately 1.9 trillion yen).
Founded in 2018 and under the umbrella of SoftBank Group, PayPay has rapidly expanded its services centered around QR code payments. As of March 2026, the company boasts 73 million registered users and is projected to process a payment volume of 15.7 trillion yen in the fiscal year 2024. This public listing aims not only to secure flexible funding from the market but also to enhance PayPay's credibility and market presence.
The Nasdaq, operated by the Financial Industry Regulatory Authority (FINRA), is known for hosting many technology companies and fintech firms, making it an attractive choice for PayPay. The spokesperson for PayPay noted that the decision to list in the U.S. was driven by the presence of numerous fintech companies in the Nasdaq, facilitating proper valuation for businesses like PayPay, which is focused on the integration of finance and technology.
