SoftBank wants to list payment app PayPay, the CEO of its wireless unit said on Tuesday, as he seeks to illustrate growth potential at Japan’s No.3 carrier. QR code payment app PayPay has acquired almost 40 million users since its launch in October 2018 through aggressive rebates as Japanese consumers shift away from cash.

“We want PayPay to IPO in the future so they will become independent… I don’t think that would be too far out,” said Junichi Miyakawa, who became chief executive of SoftBank Corp last month, at an earnings briefing.

The telco is seeking to convince investors of its ability to grow new business lines as the wireless market matures.

SoftBank is offering financial services via the PayPay app and plans to expand in Asia via chat app operator Line, which completed a merger with the telco’s internet subsidiary Z Holdings in March.