SoftBank Corp. and PayPay Corp. are discussing an investment of several hundred billion yen in 7-Eleven parent Seven & i Holdings Co.
The potential deal may involve the issuance of new shares to the investors.
Sumitomo Mitsui Financial Group’s credit card unit might also participate in the transaction.
The alliance aims to integrate PayPay’s 74 million users with the extensive 7-Eleven retail network.
Seven & i seeks to upgrade its payment and loyalty programs to match industry competitors.
The companies aim to finalize an agreement this summer, though the deal is not yet certain.