Orders
Commemorative$PayPay(PAYP.US) just IPO’d in the U.S. around a ~$10–13B valuation with ~72M users in Japan and ~$100B payment volume, basically a super-app style wallet (payments + credit + finance) dominating a still-cash-heavy market.
Compared with $Paypal(PYPL.US), the opportunity is different:
• PayPay = domestic network effects + consumer wallet growth
• PayPal = global merchant rails + higher-margin software/payments stack
Ironically PYPL might have the turnaround alpha: lower valuation, operating leverage if payment margins stabilize.
@Bridge Buzz SG
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