PayPay Corporation, a joint venture of SoftBank Group Corp., SoftBank Corp. and Yahoo Japan Corporation, is pleased to announce that the number of registered users of its cashless payment service “PayPay” has surpassed 40 million (*2) on June 17, 2021, approximately 2 years and 8 months after the service was launched on Oct 5, 2018. 40 million is approximately one third of the population of Japan (*3). In addition, the number of locations at which “PayPay” is offered by its merchants has exceeded 3.28 million. (*4)
In fiscal 2020, ”PayPay” was the most downloaded app in the finance category (and the third most downloaded app in all categories) (*5). When comparing the top downloaded apps in terms of average monthly downloads, ”PayPay” is second only to ”LINE”, the nation’s most popular communication app, being a powerful driver of cashless transactions in Japan. (*1)
*1 Based on average monthly downloads of the top 10 most downloaded apps (iOS and Android, all categories) in Japan from April 1, 2020 to March 31, 2021, during the first 2 years and 8 months after the service’s launch, according to AppAnnie.
*2 The total number of users who have registered for an account.
*3 Based on “Population Estimates (May 2021)” Statistics Bureau, Ministry of Internal Affairs and Communications.
*4 The total number of locations registered with PayPay, including shops and taxis, as of June 2021.
*5 The number of downloads (iOS and Android) from April 1, 2020 to March 31, 2021, according to AppAnnie.
Since its launch in October 2018, “PayPay” has been home to a number of special campaigns starting with the “10 Billion Yen Campaign,” followed by “Waku Waku PayPay” and “PayPay Jumbo”. In addition, a series of “mini apps” (*6) have been developed, such as “Bonus Management” and “Borrow Money,” in an effort to transform “PayPay” from a “payment app” into a “super app” with enhanced convenience & usability for users. In addition, as a provider of cashless payment services, PayPay was quick to set up a hotline available 24/7 as well as a full compensation scheme for damages caused by third parties such as through fraud, in order to ensure a safe & secure use of ”PayPay”. As a result, the number of registered users has surpassed 40 million in a little over two years and eight months, which PayPay believes a result of the efforts made to make cashless payments more accessible to as many people as possible.
In particular, amid the spread of the novel coronavirus infection (COVID-19) during 2020 and 2021, PayPay launched services to support the “new normal” lifestyle, such as its pre-order takeout service, “PayPay Pickup”. PayPay has also launched the “Support Your Local Town Project” in cooperation with 187 local governments in 41 prefectures across the nation to contribute to the digital transformation of shops and local governments, with the aim to revitalize local economies where consumption has dropped due to COVID-19.
*6 “Mini App” is a function that allows users to make reservations, order products and pay for services provided by PayPay Corporation’s partner companies from within the “PayPay” app.
In celebration of the number of users exceeding 40 million, PayPay will host a campaign by the name of “Celebrating 40 million users! Summer PayPay Matsuri Finale Jumbo” on July 25, 2021 which will offer a PayPay Bonus of up to 100% of the amount paid (up to 100,000 yen per payment, with no other limit during the campaign) to those who use “PayPay” for purchases at participating stores nationwide, including online merchants. The campaign is expected to stir up excitement on the last day of the “Summer PayPay Matsuri,” which starts on July 1st, making the finale of the “Summer PayPay Matsuri” more fun and lucrative for users.
“Celebrating 40 Million Users! Summer PayPay Matsuri Finale Jumbo”
Campaign period:
12:00 AM July 25, 2021 – 11:59 PM
Applicable stores:
All PayPay merchant stores nationwide, including online merchants.
*Some stores are not eligible. Details will be provided on the campaign page.
Campaign details:
Users paying by an eligible payment method at participating merchants including online stores during the campaign period will be entered into a lottery to win a PayPay Bonus of up to 100% of the total amount spent for the first prize winner, up to 10% for the second prize winner, and up to 1% for the third prize winner. More details on the participating merchants and other information will be announced on the campaign website soon.
* Yahoo Card” is the pet name for “Yahoo! JAPAN card”.
Grant limit:
Maximum amount awarded per transaction: Up to JPY 100K worth
Grant date:
30 days from the day following the payment date.
※ The campaign content and applicable conditions are subject to change without notice. In addition, the campaign itself may be postponed or cancelled without notice.
* As a general rule, a PayPay Bonus will be granted 30 days after the day following the payment date. However, the date of grant may be delayed depending on the user’s usage condition and system circumstances.
* PayPay Bonus can be used at official PayPay stores and official YJ Card stores. Please note that it cannot be cashed out or sent to other users.
PayPay will continue to offer the convenience of cashless payments to users as well as all kinds of retailers and service providers, with the goal of creating a world in which a safe cashless shopping experience can be enjoyed anywhere in Japan. “PayPay” will keep evolving from a “payment app” into a “super app” that will make users’ lives richer and more convenient, fostering a culture of “Anytime, Anywhere with PayPay.”
■About “PayPay,” the cashless payment service provided by PayPay Corporation
PayPay is a cashless payment service expanding across the country, available not only at major chain stores but also at small and medium size retailers, vending machines, taxis and even public transportation. It can also be used in a variety of other scenes, including paying for online services and utility bills. PayPay is also expanding its range of services beyond just payments, including a “send/receive” feature (remittance/transfer and receiving of money) that allows users to transfer their PayPay balance (PayPay Money and PayPay Money Lite) between each other for free, or “bonus management”, a service that allows users access to a simulated investment experience involving the exchange of PayPay Bonus with points provided by a Type 1 Financial Instruments Business Operator that PayPay partners with. The company also strives to create a safe and convenient environment for users through a hotline available 24/7 and a full compensation scheme ensuring, compensation for any damages that may be suffered.
PayPay is registered as follows:
・Prepaid Payment Instruments (third party type) Issuer, Registration#: Director-General of the Kanto Finance Bureau, No. 00710
・Fund Transfer Operator, Registration#: Director-General of the Kanto Finance Bureau, No. 00068
・Bank Agency Operator, License#: Director-General of the Kanto Finance Bureau, No. 396
・Telecommunications Carrier Registration: A-02-17943
* “PayPay” provides 4 types of PayPay balance: PayPay Money, PayPay Money Lite, PayPay Bonus and PayPay Bonus Lite. PayPay Money can be used to pay for partner services and merchants as long as it is within the amount deposited into the PayPay account opened after completing an identity verification process. It can also be used for sending and receiving money between PayPay users free of charge. PayPay Money can also be cashed out to a designated bank account (no withdrawal fee if using The PayPay Bank). The legal nature of this is an electromagnetic record which can be used to pay for goods and other services, and can be remitted or cashed out, issued by the Company who is a Fund Transfer Operator registered under Article 37 of the Act on Fund payment. PayPay Money Lite is an electronic money issued by PayPay, which can be purchased and used to pay for services and merchants. PayPay users can transfer and receive PayPay Money Lite free of charge. The legal nature of this is a prepaid payment instrument issued by PayPay (Article 3, Paragraph 1 of the Payment Services Act). In addition, PayPay Bonus and PayPay Bonus Lite, which are granted through campaigns and promotions when using PayPay, can be used for partner services and merchants in addition to PayPay Money and PayPay Money Lite. However, PayPay Bonus and PayPay Bonus Lite cannot be sent or transferred between PayPay users or be cashed out. PayPay Bonus Lite has an expiration date, after which date it will expire.
PayPay also strives to create a safe and secure environment for users. If an unexpected payment is made by a third party using a PayPay account, or if a request to settle a payment suddenly arrives from PayPay to a user that does not have a PayPay account, there is a scheme that ensures compensation for the damages suffered (the difference will be provided as compensation if compensation is also provided by a third party), given that the prescribed conditions are met. Please see“Applying for compensation”for details.
*Company names, trade names, and products/services in this press release are registered trademarks or trademarks of their respective companies.
