Paytm an Indian e-commerce payment system, is likely to get about 7% stake in Japan’s PayPay, two years after the Noida based company was given a call option to convert its holding into shares.

This was publicized in a regulatory filing recently by SoftBank, which owns around 20% stake in One97 Communications, the parent body ofPaytm.

PayPay corp.is a QR code based payments service provider and is a joint venture between SoftBank and Yahoo Japan, with Paytm as a technology partner. PayPay has nearly 40 million users and has seen 2 billion annual transactions.

On the whole, SoftBank Group, which includes auxiliary Yahoo Japan, has more than 90% stake in PayPay. Of late, SoftBank Group reported fourth quarter profit of nearly $37 billion, largely on the back of its Vision Fund recording gains on its investment in e-commerce firm Coupang, which had a US listing in March 2020.

Masayoshi Son, CEO, SoftBank, stated, he was increasing his commitment in Vision Fund 2.0 to $30 billion from $10 billion.

In India, SoftBank has been busy providing assistance to a new set of startups like social commerce platform Meesho, besides doubling down on active companies. It is investing at least $1 billion in Indian companies in the first quarter of the current financial year. SoftBank’s India portfolio firms like Delhivery and Policybazaar are also aiming to go public this year amid a rush for listings by a bunch of other local start-ups.