Blackstone is seeking to sell Japanese payments provider SP.LINKS for approximately $625 million, just six months after acquiring an 80% stake from Sony Group. The US private equity firm bought the business, formerly known as Sony Payment Services, for $250 million in January 2024, valuing the entire company at $313 million. Sony Bank retains the remaining 20% stake.

The sale comes as Japan's cashless payments market continues its decade-long expansion, with electronic transactions reaching 58% of total payment volume in 2025, up from 17% in 2010. Total cashless transaction value hit ¥163 trillion ($1.02 trillion) in 2025, nearly double the amount from five years earlier. This structural growth has benefited processing platforms including SP.LINKS, GMO Payment Gateway, and SB Payment Service.

SoftBank is participating in the second round of bidding, expected around mid-July, for SP.LINKS. The Japanese tech giant already owns SB Payment Service, one of SP.LINKS' main competitors, meaning a successful bid would consolidate two of Japan's larger merchant payment platforms under a single strategic owner. Blackstone's potential sale represents a substantial profit on its recent acquisition.