PayPay Targets $13.4 Billion Valuation in Planned U.S. IPO

Digital payments platform PayPay, operated by SoftBank Group, is aiming for a valuation of as much as $13.4 billion through a planned initial public offering in the United States.

According to regulatory documents released on Monday, the company intends to sell approximately 55 million American depositary shares priced between $17 and $20 each.

Following the offering, SoftBank-affiliated shareholders are expected to maintain strong control of the company with voting rights of roughly 91.8%, assuming underwriters do not purchase additional shares through their allocation option.

Founded in 2018, PayPay has expanded rapidly across Japan. By the end of 2025, the platform reported about 72 million registered users, covering nearly three-quarters of the country’s smartphone population.

The Tokyo-based firm is part of the broader SoftBank ecosystem led by Masayoshi Son. The group also announced plans to invest an additional $30 billion into OpenAI during the year, increasing its total funding commitment to approximately $64.6 billion.

After completing the planned investment, SoftBank Group is projected to hold around a 13% ownership stake in OpenAI.