Paytm Sells PayPay Stake for $279M to SoftBank

Paytm’s Singapore subsidiary, One97 Communications, has sold its stake in Japanese digital payments firm PayPay to SoftBank’s Vision Fund 2 for $279 million. This move is part of Paytm’s strategy to shed non-core assets and boost its cash reserves, which will now total $1.46 billion. The transaction, expected to close this month, values PayPay at $7.06 billion. Paytm plans to continue supporting PayPay’s innovations, especially in AI-powered features, despite ending its direct stake in the company.