The investment giant SoftBank has evolved into the world’s most aggressive investor in new technologies

SoftBank, the Japanese technology colossus, is studying an audacious plan to create a global digital payments system that could take on PayPal, Apple Pay and China’s Alipay.

The investment giant — led by maverick billionaire dealmaker Masayoshi Son — has evolved into the world’s most aggressive investor in new technologies. Its $100bn (£70bn) Vision Fund, a partnership with the government of Saudi Arabia, has started to hoover up many of the most promising tech start-ups in Silicon Valley. It bought British chip designer Arm Holdings for £24bn in 2016.

The latest plan would see SoftBank challenge attempts by the technology giants to tighten their grip on the financial system, according to City sources.

Supplanting the global finance industry is seen as one of the next