Payments For Payments

People (well, companies) are buying a lot of things these days. Specifically, they are buying other companies that actual people use to buy other things.

JPMorgan said Wednesday it plans to buy a majority stake of close to 75% in Volkswagen’s payments business…. Over time, the two companies plan to develop Volkswagen’s platform to cover markets outside the automotive sector, JPMorgan said.

European technology giant Prosus NV said it struck a $4.7 billion deal—its largest-ever acquisition—to buy Indian payments platform BillDesk, the latest investor bet that more and more consumers will conduct transactions online.

PayPal Holdings Inc. agreed to buy Japanese “buy now, pay later” startup Paidy Inc. for about $2.7 billion, in a move that will boost its business in the world’s third-largest e-commerce market.

JPMorgan is buying a majority stake in Volkswagen’s payments unit [CNBC]
Prosus Makes $4.7 Billion Bet on Online Payments in India [WSJ]
PayPal to Buy Japan’s Paidy for $2.7 Billion [WSJ]
Deals Spree Puts Banks on Track for Busiest-Ever Year [WSJ]

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