Japanese media reported, Google is making a foray into financial services in Japan by acquiring Pring Inc, a cashless payments startup, for between 20 and 30 billion yen (about $180 to $270 million). . Nikkei said that Google\’s negotiation to buy Pring Inc aims to help this US “giant” provide its own financial services instead of depending on partner banks and issuers. credit.

The cashless payment market in Japan is still relatively young andwpml_nbsphas plenty of room for expansion.   According to Nikkei\’s data in 2020, the rate of non-cash payments in retail transactions in Japan was only below 30%,  much lower than the 70-90% in South Korea and China. The entry of Google will strengthen the competition in this area.

Pring Incwpml_nbsp is headquartered in Tokyo and is controlled by Mizuko Bank.  Pring Inc currently provides payment, cash transfer and withdrawal services via smartphones. Pring Inc currently provides payment, cash transfer and withdrawal services via smartphones. 

Pring Inc currently provides payment, cash transfer and withdrawal services via smartphones. Pring Inc currently provides payment, cash transfer and withdrawal services via smartphones.

Minh Minh