Following a 13% surge on its Thursday debut, shares of SoftBank-backed Japanese digital wallet operator PayPay Corp. (PAYP.US) continued their ascent on Friday, rising more than 15% at the open to reach a total market capitalization of $14 billion. Established in 2018 as a joint venture between SoftBank and Yahoo Japan (now LY Corp.), PayPay has become the dominant leader in Japan's mobile payment sector, capturing approximately 70% of the country's smartphone payment market. Data shows that as of the end of December 2025, the company had amassed 72 million registered users, covering almost half of Japan's population and successfully driving the nation's transition from cash to cashless payments. Financial results for the nine months ended December 31, 2025, reveal revenue of 278.5 billion yen, a 26% year-over-year increase, and a net profit of 103.3 billion yen, which surged 256%.