Mercari to Acquire Smartphone Payment App Origami
Tokyo, Jan. 24 (Jiji Press)--Japanese flea market app operator Mercari Inc. has announced that its smartphone payment app unit, Merpay Inc., will acquire all shares in rival payment app operator Origami Inc.
Mercari plans to merge the Origami Pay service into the Merpay brand, according to its announcement on Thursday.
The value of the stock transfer, scheduled to take place on Feb. 25, has not been disclosed.
The acquisition comes amid intensifying competition among major information technology firms in the smartphone payment field.
While the Merpay service is currently available at about 1.7 million locations, Origami offers its smartphone payment service at about 190,000 locations, including small shops in rural areas, according to Mercari.
[Copyright The Jiji Press, Ltd.]