SoftBank Group’s payments unit is buying the life insurance unit of T&D Holdings for ¥134.3 billion ($840 million) to broaden its offerings and better compete in Japan’s ballooning fintech market. PayPay, Japan’s dominant payments app, said it will take a 70.2% stake in privately held T&D Financial Life Insurance in a deal expected to close in October of next year. One Investment Management’s OneIM Indigo will acquire a 14.9% stake.