Paidy Announces Investment From Visa

(RTTNews) - Paidy Inc., an instantly-issued post-pay credit provider, announced an investment from Visa (V) as part of the company's Series C funding.

Paidy is Japan's first instantly-issued post-pay credit service for ecommerce consumers. In addition, the two companies are partnering on new digital payment experiences that will give Japanese consumers more options when buying online and in-store.

Paidy said it does not require pre-registration or a credit card to use; Paidy consumers purchase products online using a mobile phone number and email address (verification is established though a four-digit code sent via SMS) and settle all their purchases in a single monthly bill. Paidy also supports instalment and subscription payments. There are currently over 1.50 million Paidy users.