Yahoo Japan Corporation, a Japanese internet company, will be unifying the names and services of six of its financial operating companies, including YJFX, a foreign exchange (forex) trading provider owned by Yahoo, under the "PayPay" brand.
In particular, Z Holdings Co., Ltd. (ZHD), Z Financial Co., Ltd. (ZF), and SoftBank Corp., the holding companies of Yahoo Japan, said in a statement this Friday that the name change will occur in autumn of this year.
In particular, YJ FX Co., Ltd., known as YJFX, will be changed to PayPay FX Co., Ltd. in the fall season, which in Japan, spans from September until November. The six companies to be renamed are as follows:
Source: YJFX
PayPay is a smartphone payment app launched in 2018 in collaboration with SoftBank and Yahoo. Over the past year, Yahoo has been trying to attract more users to the app and accelerate the growth of the commerce business. Under this, the financial services provided under ZHD and SBKK, which include banks, credit cards, and insurance, will all be used to strengthen the PayPay offering.
Yahoo streamlines YJFX for customer convenience
According to the statement today, the move to streamline all of the financial services under the PayPay name has been made to make it easier for users by creating one recognizable brand.
"We decided to unify the company name and service name under the "PayPay" brand, with the desire to use the service from the beginning, and we came to this announcement," the company said this Friday.
"YJFX has already implemented a program that gives PayPay bonus lights depending on transactions from January 2020, and strengthening the financial business of the entire ZHD Group will be done by customers utilizing the Group's strengths. We believe this is a good opportunity to provide good service," the translated statement said.
