Tokyo, June 4 (Jiji Press)--PayPay Corp., a smartphone payment firm under SoftBank Group Corp., said Thursday that it will enter the life insurance business by acquiring T&D Financial Life Insurance Co. PayPay will acquire a 70.2 pct stake in the T&D Holdings Inc. unit

SoftBank-backed PayPay will take a 70.2% stake in T&D Financial Life for about ¥134.3bn (~$840m), entering Japan’s life insurance market.

A PayPay pretende adquirir 70,2% das ações da T&D Financial Life Insurance junto à T&D Holdings, empresa listada na bolsa de Tóquio