PayPay Corp (NASDAQ:PAYP) shares are trading higher on Friday amid post-IPO volatility. The SoftBank‑backed digital payments platform made its Nasdaq Global Select Market debut on Wednesday,

Shares Open Well Above IPO Price

PayPay began trading at $19 per share, nearly 19% above its $16 IPO price, where the company sold 54.99 million American depositary shares. The stock finished the session at $18.16, up 13.5%, and added another 4.24% in after‑hours trading to reach $18.93.

The debut showed clear investor enthusiasm for the digital payments platform, which counted roughly 70 million users in 2025. Trading was volatile throughout the morning, hitting above $26 around 4:30 a.m. ET before pulling back a little bit.

While listing in the U.S. is the right move for PayPay's growth right now, according to Bloomberg, the company isn't closing the door on a future listing in Japan, CEO Ichiro Nakayama said in an interview. "We're definitely not ruling that out," he noted.

Ark Invest Steps In With A Day‑One Purchase

Cathie Wood's Ark Invest made a notable move on PayPay's first day of trading. The firm's ARK Blockchain & Fintech Innovation ETF snapped up 275,000 shares, an investment worth nearly $5 million based on the stock's $18.16 closing price.

Having Ark Invest step in immediately seems to have provided a vote of confidence in PayPay's long‑term potential.

SoftBank‑Backed IPO Structure Adds Credibility

PayPay listed on the Nasdaq under the ticker "PAYP" with the support of SoftBank Group Corp (OTC:SFTBY), one of the company's largest backers. The IPO also included an over‑allotment option allowing underwriters to buy an additional 8.23 million ADSs.

PAYP Price Action: PayPay shares were up 17.07% at $21.26 at the time of publication on Friday, according to Benzinga Pro.

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