PayPay Corporation announces that from October 29, 2024, merchants that have adopted the cashless payment service “PayPay”（*1）will start accepting payments by “iPASS MONEY”, “Plus Pay”, and “icash Pay” （※2）from Taiwan.
In addition to “JKO Pay”, “PXPay Plus” and “E.SUN Wallet” from Taiwan that are already integrated with PayPay, this new partnership allows a total of over 23 million users from six cashless payment services（※3）in Taiwan to make payments for food, drinks, souvenirs, accommodation and other expenses at PayPay merchants when they visit Japan. By partnering with major cashless payment services with high market shares in Taiwan, PayPay aims to provide a convenient payment experience for visitors from Taiwan to Japan, while also enabling PayPay merchants to smoothly handle tourists from overseas who speak different languages.
※1 Available at both user scan（MPM）and store scan（CPM）merchants.
※2 “iPASS MONEY” will be available on October 29th. Details for “Plus Pay” and “icash Pay” will be announced at a later date.
※3 Total number of users of the six cashless payment services combined（as of October 2024）
According to the Japan National Tourism Organization（JNTO）, the number of foreign visitors to Japan in August 2024 was 2.933 million, which was about 116% of the same month in 2019 before COVID-19, marking a record high as a single month for seven consecutive months. The number of foreign visitors to Japan from Taiwan and other East Asian countries is increasing.
Of the total number of foreign visitors to Japan during the period of January to August 2024, visitors from Taiwan was 4.115 million, ranking third after South Korea（5.811 million）and China（4.595 million）（※4）.
In addition, Taiwan ranked third（※5）in inbound travel spending by region for the period of April to June 2024. Additional integration with “HIVEX®” partner wallets, “iPASS MONEY”, “Plus Pay”, and “icash Pay”, will help merchants increase sales by capturing demand through cashless payment services from Taiwan. While users of 21 cashless payment services in 11 countries and regions, including services partnered through “Alipay+”（※6）, can now make payments at PayPay merchants in Japan, PayPay will continue to actively promote partnerships with regions with high demands.
※4: Japan National Tourism Organization（JNTO）, “Number of Foreign Visitors to Japan（August 2024 estimate, released on September 18, 2024）
※5 From the Japan Tourism Agency’s “Summary of National Survey Results（1st Preliminary Report）for the April-June period of 2024（released on July 19, 2024）.
※6 Only merchants using “PayPay” with user scan（MPM）, in which users scan the QR code posted in stores.
Since its launch in October 2018, PayPay continues to create an environment for overseas cashless payment services to be used at PayPay merchants in order to support merchants seeking to capture inbound demand. When paying for goods and services with overseas cashless payment services through “PayPay” QR codes, after entering the price in yen, the amount is converted automatically into the currency of each country. This makes shopping easy for the users while providing benefits to the merchants as well, such as smoother transactions with tourists who speak different languages.
PayPay will continue to enhance partnership with overseas payment services to further support merchants in capturing tourism demand.
■ List of overseas cashless payment services integrated with “PayPay”（21 services from 11 countries and regions）
| Service Name | Region | Provider | Integration Date |
|---|---|---|---|
| iPASS MONEY | Taiwan | iPASS Corporation | October 2024 |
| Plus Pay | Taiwan | All Win Fintech Company Limited | TBA |
| icash Pay | Taiwan | icash Corporation | TBA |
| JKO Pay | Taiwan | Jkopay Co., Ltd. | October 2023 |
| E.SUN Wallet | Taiwan | E.SUN COMMERCIAL BANK, LTD. | November 2023 |
| PXPay Plus | Taiwan | PXPay Plus Co., Ltd. | February 2024 |
| Alipay | Mainland China | Ant Group Co., Ltd. | October 2018 |
| Kakao Pay | South Korea | Kakao Corp. | October 2018 |
| AlipayHK | Hong Kong | Alipay Payment Services（HK）Limited | October 2018 |
| TrueMoney | Thailand | True Money Co. Ltd. | June 2023 |
| Touch ‘n Go eWallet | Malaysia | TNG Digital Sdn Bhd | June 2023 |
| GCash | Philippines | Mynt（Globe Fintech Innovation, Inc.） | June 2023 |
| HelloMoney by AUB | Philippines | Asia United Bank Corporation（AUB） | June 2023 |
| NAVER Pay | South Korea | NAVER FINANCIAL Corp. | January 2024 |
| Toss | South Korea | Viva Republica Inc. | January 2024 |
| OCBC Digital | Singapore | Oversea-Chinese Banking Corporation Limited | January 2024 |
| Changi Pay | Singapore | Liquid Group Pte. Ltd. | January 2024 |
| MyPB | Malaysia | Public Bank Berhad | January 2024 |
| Tinaba | Italy | Tinaba S.p.A Banca Profilo S.p.A |
January 2024 |
| Mpay | Makao | Macau Pass S.A. | January 2024 |
| Hipay | Mongolia | High Payment Solutions LLC | January 2024 |
■ About HIVEX® Network
“HIVEX®” network provides better user experience by offering participating cashless payment merchants（MPSPs）common business rules, system integration, consistent and neutral branding, and greater commercial scalability. Connecting to the “HIVEX®” network enables cross-border payments between countries that could not previously make transactions.
PayPay Corporation is registered as follows：
・Prepaid Payment Instruments（third party type）Issuer（Registration number: Director-General of the Kanto Finance Bureau, No. 00710／Registration date: October 5, 2018）
・Business Operator that Concludes Contracts on the Handling of Credit Cards（Registration number: Kanto（Ku）No. 106／Registration date: July 1, 2019）
・Telecommunications Carrier（Filing number: A-02-17943／Date filed: July 2, 2019）
・Fund Transfer Operator（Registration number: Director-General of the Kanto Finance Bureau, No. 00068／Registration date: September 25, 2019）
・Notified Entity Entrusted with Intermediation（Filing number: C1907980／Date filed: December 18, 2019）
・Bank Agency Services（License: Director-General of the Kanto Finance Bureau（Gindai）No. 396／Registration date: November 26, 2020）
・Financial Instruments Intermediary Services（Registration number: Kanto Finance Bureau Director（Kinchu）No. 942／Registration date: June 25, 2021）
・Electronic Payment Agency Services（License: Director-General of the Kanto Finance Bureau（Dendai）No. 109／Registration date: February 14, 2023）
・Designated Funds Transfer Operator, permitted to provide digital payment of wages （Designation No.: Minister of Health, Labor and Welfare（No. 00001／Date of designation: August 9, 2024）
・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 Certificates.
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.
