Business

PayPay to launch second rebate campaign valued at ¥10 billion

JIJI

Japan-based smartphone payment service provider PayPay Corp. says it will launch another campaign Feb. 12 to give its users reward points worth a total of ¥10 billion.

The campaign by the joint venture between SoftBank Group Corp. and Yahoo Japan Corp. will provide shoppers with reward points equivalent to up to 20 percent of purchase amounts. A user can receive points worth up to ¥50,000 over the campaign period.

The campaign will run until May 31, but it will end early if the total rebate amount reaches ¥10 billion.

PayPay will cap such points at ¥1,000 per payment, aiming to encourage users to make more payments using the service at frequently visited locations such as convenience stores and drugstores.

Users will get a 20 percent rebate for payments using a bank account, 19 percent with a Yahoo credit card and 10 percent with other types of credit cards.

The first such campaign was launched in December. PayPay planned to continue the program for four months, but it lasted only 10 days due to payments with large purchase amounts, such as for home appliances.

“I want customers to use the service many times over a longer period,” said PayPay President and Chief Executive Officer Ichiro Nakayama.