PayPay Bank Corporation (Head office: Shinjuku-ku, Tokyo; President & Representative Director: Tomohito Takusari; hereinafter “PayPay Bank”) and PayPay Corporation (Head office: Minato-ku, Tokyo; President & Representative Director, CEO, Corporate Officer: Ichiro Nakayama; hereinafter “PayPay”) are pleased to announce that, starting December 18, 2024, the cash deposit and withdrawal service, “Cardless ATM (*1),” offered by PayPay Bank will also be available via the PayPay app (*2, 3).
This enhancement allows users to withdraw or deposit funds in their Japanese yen savings accounts at PayPay Bank via ATMs using just the PayPay app, without the need for a physical cash card, making it convenient even in situations where cash is urgently needed.
*1. The Cardless ATM service allows withdrawals and deposits without a cash card and is available at Seven Bank ATMs and Lawson Bank ATMs in Japan.
For more details on Cardless ATM, please check the link below.
https://www.paypay-bank.co.jp/apps/spatm.html
*2. Access from the PayPay app is limited to deposits to and withdrawals from yen savings accounts. It does not support loan borrowing or repayments.
*3. The “Cardless ATM” service can be used with either the PayPay Bank app or the PayPay app, but not both simultaneously.
While the spread of cashless payment options has allowed people to go out without carrying a wallet, there are still occasions where cash is indispensable. PayPay Bank’s “Cardless ATM” provides a solution for such unexpected cash needs using just a smartphone. Additionally, not having to carry a physical card helps prevent theft or loss, ensuring a safe and secure experience.
Previously, the “Cardless ATM” was only accessible via the PayPay Bank app. However, it is now available through the “ATM Services”(*4) icon within the PayPay app(*5). This expansion addresses the unexpected cash needs of over 66 million PayPay app users, further enhancing convenience while also aiming to expand PayPay Bank’s user base.
In this service, ATM withdrawal and deposit fees align with those applied when using the PayPay Bank cash card. The first deposit and withdrawal each month are free, regardless of the amount, and are also free if subsequent transactions are over 30,000 yen (transactions under 30,000 yen incur a fee of 165 yen)(*6).
*4. With the launch of this service, the “ATM Top-Up” icon in the PayPay app has been renamed to “ATM Services.”
*5. Users who have not linked their PayPay and PayPay Bank accounts will need to enter their PayPay Bank branch number, account number, and login password during the initial setup.
※6. For information on PayPay Bank’s ATM deposit and withdrawal fees, please check the link below.
https://www.paypay-bank.co.jp/atm/index.html
The PayPay app continues to evolve into a “super app” that is conveniently usable in various aspects of everyday life. It has been strengthening its integration with financial services and has implemented mini apps for PayPay-branded financial services such as “PayPay Bank,” “PayPay Card,” “PayPay Securities,” and “PayPay Insurance”.
The “PayPay Bank” mini app allows users to access banking services, such as balance and transaction history checks and fund transfers, directly through the PayPay app. Moreover, starting in December 2024, following the launch of a regular program called “Deposit Revolution(*7),” which offers an annual interest rate of 2.0% when depositing funds in both yen and US dollar savings accounts, users can make deposits to and withdrawals from US dollar savings accounts via the “PayPay Bank” mini app. Additionally, users can check their US dollar savings balance along with their yen savings balance from the “Wallet” section in the PayPay app.
*7. For details on the “Deposit Revolution” program, please check the link below.
https://login.paypay-bank.co.jp/wctx/CAentry.do?B_ID=1&CampaignId=C241000893
PayPay Bank and PayPay have already provided “PayPay Bank” features within the PayPay app, such as balance and transaction history checks and fund transfer functions. With the addition of the “Cardless ATM,” efforts will be made to continuously enhance the convenience and security of users’ lives.
About PayPay Bank
Founded in 2000, PayPay Bank (formerly Japan Net Bank) was the first internet-only bank in Japan, now providing over 8.37 million accounts to its customers. After rebranding to PayPay Bank in April 2021, it has further strengthened its partnership with PayPay, launching the PayPay Bank mini app within the PayPay app in August 2022. PayPay Bank’s mission is to “Make financial services as accessible as air,” and the company will continue to work toward the goal of providing financial services that are unseen yet indispensable, and that people happen to be using by the time they notice.
On December 4, 2024, PayPay Bank launched the “Deposit Revolution” program, offering an annual interest rate of 2.0% on both yen and US dollar savings accounts, which has been well-received by numerous customers.
PayPay Bank’s mission is to “Make financial services as accessible as air,” and the company will continue to work toward the goal of providing financial services that are unseen yet indispensable, and that people happen to be using by the time they notice.
PayPay Bank will continue to offer products and services tailored to meet a diverse range of societal needs, enhancing daily convenience.
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 situations, 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 service provider 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, compensation for any damages that may be suffered.
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 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. PayPay Money (Paycheck) refers to PayPay Money that can only be purchased with wages received by the PayPay user in their Paycheck Account. 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.
