PayPay Securities Corporation (Chiyoda Ward, Tokyo, President & CEO: Masaaki Uchiyama, hereinafter PayPay Securities), the smartphone brokerage firm that operates under its mission to “Make asset management more accessible” and PayPay Corporation (Minato Ward, Tokyo, President & Representative Director, CEO, Corporate Officer: Ichiro Nakayama, hereinafter PayPay) are pleased to announce that as of today, PayPay Money*1 can be used with “Oitamama Purchase,” a service within the “PayPay Securities App” to trade stocks and mutual funds.
PayPay Securities Corporation and PayPay Corporation have already collaborated in offering “Earn Points” as a mini app*2 in the cashless payment service “PayPay.” One year and eleven months from its launch, “Earn Points,” which provides users with a simulated investment experience, is enjoyed by over six million users as of April 2022. Now that PayPay Balance (PayPay Money) has become available with “Oitamama Purchase,” users will be able to invest in stocks and mutual funds using PayPay Money.
In addition, a “PayPay Money Now Available with Oitamama Purchase Campaign” has started as of today, with which the transfer fee that is usually incurred for purchases of less than 20,000 yen will be made free*3, on the condition that they are made with PayPay Money.
*1. PayPay Money is a type of PayPay Balance. See here for details on PayPay Balances. Users are required to verify their identity (eKYC) to use PayPay Money. See here for further details on the PayPay app eKYC.
*2. A mini app is a feature that allows users to smoothly make reservations, order products, and purchase services provided by PayPay Corporation’s partner companies from the PayPay app.
*3. There is no transfer fee for purchases of 20,000 yen or more.
■ PayPay Money available with “Oitamama Purchase”
“Oitamama Purchase” is a service provided by PayPay Securities Corporation that enables settling purchases of stocks and mutual funds without having to transfer funds from a bank account etc. to a trading account. Now that PayPay Balance (PayPay Money) has been made available through the integration of “PayPay,” it can be used to purchase stocks and mutual funds 24 hours a day, 365 days a year (excluding maintenance windows) as long as there is sufficient PayPay Money balance. Purchases begin at a minimum of 1,000 yen. Also, proceeds from the sales of assets can be converted to PayPay Balance (PayPay Money). If, however, doing this results in exceeding PayPay’s top up limit or a PayPay Money balance of 1 million yen or more, the amount cannot be topped up to PayPay. See here for details on “Oitamama Purchase.” See here for details on PayPay Money balance limits.
* Purchases of stocks and mutual funds through “Oitamama Purchase” using PayPay Money are not subject to the “PayPay STEP” count or benefits, which offers PayPay Points of up to 1.5% as a regular benefit depending on usage in the previous month.
■ Campaign to celebrate the use of PayPay Money with “Oitamama Purchase”
Starting today, the 110 yen transfer fee that is normally incurred with purchases of less than 20,000 yen will be made free if the payment is made with PayPay Money. All customers making purchases with PayPay Money are eligible.
* There is no transfer fee for purchases of 20,000 yen or more. See here for details.
* Fees collected for the purchase or sales of stocks or mutual funds will be collected as usual. See here for the list of various fees that are applicable. See here for the list of Japanese stocks available for purchase with “Oitamama Purchase.” See here for the list of US stocks available for purchase with “Oitamama Purchase.”
* For customers who already have an account with PayPay Securities, the application to participate in the campaign will be deemed complete upon a successful purchase using PayPay Money.
| 【Period】 | Starts May 10, 2022 (Tue). End date yet to be decided. |
| 【Eligibility】 | All customers making a purchase using PayPay Money during the campaign period. |
* In the event that the trading account has been canceled or suspended from use at the time the benefits of the campaign are to be granted, the campaign will not be applied.
* The end date of the campaign, once decided, will be announced on the respective companies’ websites 30 days in advance.
■ Risks and transaction fees
Trading in securities may result in a loss of principal due to a fluctuation in the value of stocks (prices) or currency exchange rates, deterioration in the trust of the issuers, etc., or changes in the situation of a given country whether political, economic, or social. The user is required to read the “Document Delivered Prior to Conclusion of a Contract” to understand the risks and the amount equivalent thereto etc. before making any transactions, given that all transactions are up to the user’s sole discretion and responsibility.
■ PayPay Securities Corporation
As the first smartphone securities company in Japan, PayPay Securities Corporation launched its service in June 2016 with the aim to create an environment where anyone can easily make investments, so that asset management would be more approachable. Until now, it has developed services such as “Japan-US Stocks,” “Robot Accumulation Plan,” “Tenfold CFD,” “Japan Stocks CFD,” and “Anyone IPO.”
In April 2020, the company started providing “Earn Points,” giving users access to a simulated investment experience with PayPay Points. To further develop the service into something that is even more convenient and accessible in everyday life through collaboration with PayPay Corporation, the business was rebranded to “PayPay Securities” as of February 2021 to incorporate the PayPay brand.
In addition, the company began offering mutual funds for the first time in September 2021, making “One Global Balance” and “Global ESG High Quality Growth Equity Fund (no currency hedging)” available to users. PayPay Securities Corporation will continue to offer unprecedented financial services that are simpler than the rest and easiest to use, in order to help customers become familiar with stock investments and asset building.
■ PayPay Securities Corporation official URL
“PayPay Securities Japan U.S. Stocks” app: http://bit.ly/3sjrtPL
Official website: https://www.paypay-sec.co.jp/
Social media accounts:
＜Twitter＞ https://twitter.com/paypay_sec
＜Facebook＞ https://www.facebook.com/paypaysec/
＜note＞ https://note.com/paypay_sec_edit
■ 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 “point management,” a service that allows users access to a simulated investment experience involving the exchange of PayPay Points with points provided by a Type 1 Financial Instruments Business Operator that PayPay is partnered 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 a 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 (Registration date: October 5, 2018)
・Fund Transfer Operator, Registration #: Director-General of the Kanto Finance Bureau, No. 00068 (Registration date: September 25, 2019)
・Japan Payment Service Association (https://www.s-kessai.jp/, Date of admission: September 12, 2018)
・Business Operator that Concludes Contracts on the Handling of Credit Card Numbers, etc., Registration #: Kanto (K) No. 106 (Registration date: July 1, 2019)
・Japan Consumer Credit Association (https://www.j-credit.or.jp/, Date of admission: July 1, 2019)
・Telecommunications Carrier (Filing #: A-02-17943 / Date filed: July 2, 2019)
・Notified Person Entrusted with Intermediation (Filing #: C1907980 / Date filed: December 18, 2019)
・Bank Agency Operator, License: Director-General of the Kanto Finance Bureau, No. 396 (Registration date: November 26, 2020)
・Financial instruments intermediary service registration number: Kanto Finance Bureau Director (Kinchu) No. 942 (Registration date: June 25, 2021)
* “PayPay” provides 4 types of PayPay balance: PayPay Money, PayPay Money Lite, PayPay Points and PayPay Bonus Lite. PayPay Money can be used to pay for partner services and merchants if 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 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 Payment Services Act. Based on the provisions of Article 43 of the Payment Services Act, PayPay preserves the debt it owes to its users in full amount and more by depositing its assets. 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). Based on the provisions of Article 14 of the Payment Services Act, PayPay preserves the relevant assets for the purpose of protecting the owners of the prepaid payment instrument by providing a security deposit for issuance to the Legal Affairs Bureau in an amount that is half or more of the unused balance of prepaid instrument methods as of March 31 and September 30. In addition, PayPay Points 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 no longer be valid.
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.
