Paytm to Offload Stake in Japan’s PayPay to SoftBank

Paytm has agreed to sell its stake in the Japanese payments company PayPay to SoftBank for $279.2 million, as the Indian firm continues to divest non-core assets in the wake of a tough regulatory crackdown earlier this year.

This move comes after months of restructuring, including the August sale of Paytm's entertainment ticketing unit to Zomato for $246 million. Paytm acquired its stake in PayPay through acquisition rights six years ago. PayPay, which is controlled by SoftBank and Yahoo Japan's parent, Z Holdings, is one of Japan's leading payment apps.