Yoshinoya Co., Ltd. (Head Office: Chuo-ku, Tokyo; Representative Director & CEO: Yasutaka Kawamura, hereinafter “Yoshinoya”) is pleased to announce that starting with their April payroll, approximately 20,000 part-time employees at Yoshinoya will be eligible for PayPay Corporation’s (Head Office: Shinjuku-ku, Tokyo; President & Representative Director, CEO, Corporate Officer: Ichiro Nakayama, hereinafter “PayPay”) digital payroll service PayPay Paycheck through the early payroll service provided by apseeds inc. (Head Office: Chuo-ku, Tokyo; Representative Director, President & CEO: Katsunori Fujimoto, hereinafter “apseeds”). As a result, Yoshinoya’s part-time staff will be able to receive their salary in PayPay Balance (PayPay Money (Salary)) on their desired day,* without waiting for payday, and will also be able to seamlessly make payments using the received PayPay Balance.
*The earliest date employees can select is the day following the workday.
■ Background
Yoshinoya had previously implemented a welfare system offering early payroll through the Sokubarai Service provided by apseeds, targeting part-time employees. With the Sokubarai Service now compatible with PayPay Paycheck, employees can receive their monthly wages for hours worked as PayPay Balance on their desired date, enhancing employee welfare, improving employee retention rates, and strengthening recruitment capabilities. Through this initiative, apseeds has enhanced the Sokubarai Service by implementing a new feature to obtain employees’ consent within the service, enabling efficient operation of digital payroll.
■ Support for PayPay Paycheck using Sokubarai Service
Companies need to obtain necessary information, such as the account information (account number, etc.) of the deposit account and the desired amount, as well as consent from employees who wish to use PayPay Paycheck. By utilizing the Sokubarai Service, companies can achieve efficient and seamless digital payroll processing, from obtaining necessary information to making transfers.
■ Future Developments
Going forward, apseeds and PayPay plan to promote digital payroll compatibility to other companies utilizing the Sokubarai Service.
＜References＞
・PayPay Paycheck
PayPay Paycheck is a service that allows users to receive salary in their PayPay account. Companies can deposit funds into employees’ PayPay accounts by bank transfer to the deposit account number (bank account number) created by PayPay.
*Prior labor-management agreements between the company and employees are required. No additional service contracts with PayPay are necessary for businesses.
・The early payroll Sokubarai Service
The Sokubarai Service allows for payment (receipt) of a portion of the salary before the scheduled payday. Implementing an early payroll system increases employees’ flexibility in receiving salary, contributing to improved hiring efficiency, retention rates, and job satisfaction among part-timers, temporary staff, and contract workers.
Additionally, it is the only outsourced payroll service provided in the industry, allowing worry-free operation without legal risks such as the “Five principles for wage payment (full payment).”
■ apseeds inc. (Mynavi Group company) https://www.apseeds.co.jp/
Corporate name: apseeds inc.
Location: Ginza Toyo Building, 1-15-6 Ginza, Chuo-ku, Tokyo
Representative: Representative Director, President & CEO, Katsunori Fujimoto
Established: December 2009
Business description:
1. Providing and managing welfare and DX tools including early payroll and business portal apps
2. Supporting BPO management of HR companies and providing OEM services
* “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 and transferred to a designated bank account (no transfer 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) means PayPay Money that can only be purchased with wages received by the PayPay user in their Salary 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 related to the funds transfer balance. PayPay Money Lite is a type of 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, Time-Limited PayPay Points are restricted to payments for certain services provided by LY Group. They cannot be transferred between PayPay users or be cashed out. Time-Limited PayPay Points have an expiration date, which can be confirmed in the details or conditions of the LY Group measures or promotional campaigns. 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, PayPay Bonus and PayPay Bonus Lite cannot be transferred between PayPay users or be 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, 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.
