Paidy, a Tokyo, Japan-based instantly-issued post-pay credit provider, received an investment from Visa (NYSE:V) as part of a Series C funding.
The amount of the del was not disclosed.
In addition, Paidy and Visa are partnering on new digital payment experiences that will give Japanese consumers more options when buying online and in-store.
Led by Russell Cummer, Founder and Executive Chairman, Paidy is an instantly-issued post-pay credit service for ecommerce consumers, which does not require pre-registration or a credit card to use. Consumers purchase products online using a mobile phone number and email address (verification is established though a four-digit code sent via SMS) and settle all their purchases in a single monthly bill.
The service also supports instalment and subscription payments. There are currently over 1.5m users.