April 26, 2024
PayPay Corporation

First Domestic Code Payment to Become Available! “PayPay” Now Available at the General Online Retailer “SHEIN” !

- Accelerated introduction of "PayPay" to major e-commerce websites, for a safer, more secure, and convenient shopping experience -

PayPay Corporation(hereinafter “PayPay”)is pleased to announce that its cashless payment service “PayPay” is now available at the fashion and lifestyle online shopping service SHEIN, operated by SHEIN Group. “PayPay” is the first domestic code payment service that is available for use on SHEIN.

With this addition, users can shop in SHEIN using their PayPay Balance topped up in PayPay, PayPay Credit, and PayPay Points granted through daily shopping and promotional campaigns. SHEIN will be applicable to the PayPay STEP(regular benefits program), where users can receive between 0.5% to up to 2.0% worth of PayPay Points*1 for payments made using PayPay.

※1 The grant rate will increase from 0.5% to 1.0%, 1.5%, or 2.0% depending on the PayPay STEP conditions achieved in the previous month.

When purchasing with “PayPay,” users will no longer need to enter their credit card number or security code at the time of payment. When shopping on the phone, users will be automatically redirected to the PayPay app and when buying from a computer, users can pay with “PayPay” by scanning a 2D code displayed on the web page. Users who are concerned about entering their credit card information for online services can now complete payments more safely, securely, and quickly. Since a smartphone phone number is all that is needed to register for a PayPay account, a wide range of users including younger users can enjoy shopping on SHEIN even if they do not own a credit card.

After the service was launched in October 2018, PayPay was widely introduced mainly in brick-and-mortar stores, including major chain stores and small to medium-sized stores. In line with post-pandemic lifestyle changes, recent focus has also been given to availability in online services. PayPay is now available with online services such as “Amazon.co.jp,” “App Store,” and “Google Play,” and in 2023, the annual GMV and number of payments for online services increased by more than a factor of 1.4 year-on-year. The demand for online code payments continues to increase, since payments can be completed without inputting information such as a credit card number, and without linking PayPay with the respective online service. Now available on SHEIN, which is currently leading the global e-commerce market, PayPay will strive to further increase both the number and volume of payments it handles by promoting its use to a wide audience including younger users.

PayPay will continue to strive for a world where users and all types of restaurants and service providers can enjoy the convenience of cashless payment and use the cashless payment service with confidence anywhere in Japan. Furthermore, PayPay aims to evolve from a payment app into a super app that enriches users’ lives and makes them more convenient, fostering a world where paying “Anytime, Anywhere with PayPay” is a reality. As the company was designated by the Financial Services Agency as a Specified Essential Infrastructure Service Provider in November 2023, PayPay is committed to continue providing an even safer and more secure environment for users.

■ About “PayPay,” the cashless payment service provided by PayPay Corporation

“PayPay” is a cashless payment service that continues to expand throughout Japan, facilitating transactions at large chain stores, small to medium-sized shops, vending machines, taxis, and public transportation. It is also available for a variety of payment scenarios, including online services and bill payments for utilities. Additionally, the service offers convenient features beyond payments, such as the ability to “Send/Receive” PayPay Balance (PayPay Money and PayPay Money Lite) between users without any fees. The “Earn Points” feature allows users to exchange PayPay Points for points with a partner service provider to simulate investment experiences offered by the providers. Furthermore, PayPay Corporation has established a 24/7 telephone support line and a compensation system to ensure user safety, providing peace of mind in case of any incidents.

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)
・Business Operator that Concludes Contracts on the Handling of Credit Card Numbers, etc., Registration #:Kanto(K)No. 106(Registration date:July 1, 2019)
・Telecommunications Carrier(Filing #:A-02-17943/Date filed:July 2, 2019)
・Fund Transfer Operator, Registration #:Director-General of the Kanto Finance Bureau, No. 00068(Registration date:September 25, 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)
・Japan Payment Service Association(https://www.s-kessai.jp/, Date of admission:September 12, 2018)
・Japan Consumer Credit Association(https://www.j-credit.or.jp/, Date of admission:July 1, 2019)

※ “PayPay” offers four types of electronic money and other services:PayPay Money, PayPay Money Lite, PayPay Points, and PayPay Gift Vouchers.
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 services, can be remitted or cashed out, and is issued by PayPay 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 protects the debt it owes to its users by depositing assets equivalent to or higher than the debt amount. 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, which are granted through campaigns and promotions when using PayPay, can be used for partner services and in transactions at merchants in addition to PayPay Money and PayPay Money Lite. However, it cannot be transferred to other users or cashed out. PayPay Gift Voucher is a type of electronic money issued by PayPay, which can be used to make payments for affiliated services and merchants designated by the PayPay Gift Voucher. However, it cannot be transferred to other users or cashed out. PayPay Gift Vouchers have an expiration date, after which they will no longer be valid. The deadline for Gift Vouchers can be confirmed in the details or specifications of the measure or promotion campaigns for which they are issued.
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.

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