PayPay Corp. (PAYP.US), a Japanese digital wallet operator supported by SoftBank, began trading on the U.S. stock market today. The stock opened more than 13% higher at $18.1 per share, giving the company a total market capitalization of nearly $12 billion. The IPO price was set at $16 per share.

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 significantly advancing the nation's shift from cash to cashless payments.

Financial results highlight PayPay's rapid and profitable growth. For the nine-month period ending December 31, 2025, the company reported revenue of 278.5 billion yen, a 26% increase year-over-year. Net profit surged 256% to 103.3 billion yen. Both key financial metrics demonstrate robust profitability and strong potential for further business expansion.