PayPay Corporation (hereinafter PayPay) is pleased to announce the launch of the virtual card “PayPay Balance Card” on the PayPay app, which can be used at online credit card merchants*1*2*3.
The “PayPay Balance Card” can be used at merchants who accept Visa credit cards on Japanese websites offering online shopping, content, and more. The payment amount is immediately deducted from “PayPay Balance” or “PayPay Points”*4 within the PayPay app.
Additionally, payments made with the “PayPay Balance Card” will qualify for “PayPay STEP“, PayPay’s regular rewards program, allowing users to earn PayPay Points. Therefore, by using the “PayPay Balance Card” at online shops that do not typically accept PayPay, users can earn PayPay Points in the same way as they would when paying with their usual “PayPay Balance.”
*1 The card cannot be used at most online shops and websites operated by overseas businesses, with some exceptions. Additionally, some online shops and websites of Japanese Visa merchants whose may not accept the card.
*2 This feature will be rolled out across users sequentially. The latest app version is required for use.
*3 “PayPay Balance Card” is offered through a partnership between PayPay and PayPay Card Corporation.
*4 To use “PayPay Points” for payment, users need to set the usage method of points to “Pay.” Please check here for more details.
The PayPay Balance Card can be easily issued through the PayPay app in as little as 30 seconds*5. There is no need for a credit check as required for traditional credit card creation, and there is no annual fee. Since transactions cannot exceed the available PayPay Balance*6, users concerned about overspending can also enjoy online shopping more securely and comfortably.
*5 Prior to application, identity verification (eKYC) through PayPay is required. For details on the identity verification process, please check here.
*6 By setting up the auto top-up feature, an amount greater than the shortfall will be automatically added when your balance is insufficient. For more details on the auto top-up feature, please check here.
＜How to Issue a PayPay Balance Card＞
By linking your PayPay account with Google Pay, you can use the PayPay Balance Card for online shopping on the “Google Chrome” web browser, provided by Google, without inputting card numbers, making it even more convenient. For details on linking PayPay with Google Pay accounts, please check here.
＜Overview of the PayPay Balance Card＞
・International Brand
Visa
・Annual Fee
Free
・Grant Rate of Points
0.5% to 1.0% of the payment amount, depending on the user’s PayPay STEP achievement status
PayPay and PayPay Card will continue to keep users first in mind while aiming to enhance user satisfaction and create more convenient and rewarding services, ultimately delivering a cashless service that is the indisputable standard in Japan.
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)
・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. Until the customer’s identity verification is completed, issued PayPay Money Lite (including previously issued ones) is distinguished as PayPay Money Lite (Low Value), and for those customers who have completed identity verification (including previously issued ones), it is classified as PayPay Money Lite (High Value). 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.
* The images are for illustrative purposes only.
*Company names, trade names, and products/services in this press release are registered trademarks or trademarks of their respective companies.
