PayPay Corporation was established in 2018 as a joint venture by the SoftBank Group, SoftBank Corp., and Yahoo Japan Corporation (now LY Corporation) to promote a cashless society in Japan. The company provides a smartphone-based payment service that enables users to store money in their PayPay wallet from a bank account or credit card and make payments by scanning QR codes at participating merchants. Its mission is to be the leading mobile payment platform in Japan, offering a seamless and convenient payment experience for both consumers and businesses.