Seven & i takes ¥300bn capital injection, folds 7-Eleven's loyalty ID into PayPay's
SoftBank, PayPay and Sumitomo Mitsui Card are putting ¥300bn into Seven & i Holdings — and Seven-Eleven Japan's own loyalty ID is being folded into PayPay's, a bet that a shared payments platform beats owning one outright.
Seven & i Holdings will raise ¥300 billion in fresh capital from three investors — SoftBank Corp, PayPay Corp and Sumitomo Mitsui Card — as part of a strategic partnership that folds Seven-Eleven Japan's own loyalty programme into PayPay's ID system, the companies announced on 31 July.