Google is reportedly entering the financial services market in Japan by buying a cashless payment company for $180-270 million.
According to a report by Nikkei Asia, the world’s largest financial newspaper, Google is in negotiations to acquire all the shares in Tokyo-based start-up pring.
pring is currently owned by Mizuho bank and other investors.
The newspaper said that Google is hoping to offer FinTech services, including payments and transfers, in Japan next year, following launches in both the US and India.
The move reflects a growing trend of technology companies branching out into a vast range of services to become ‘one-stop-shops.’
Google declined to comment on the reports.
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