SoftBank backs PayPay mobile payments launch with 20% cashback offer

SoftBank and Yahoo Japan-backed PayPay is to go live in Japan on 4 December with a 10bn yen (US$88.6m) promotional campaign that will see users receiving a 20% cashback on all the purchases they make with the new QR mobile payments service between the launch date and 31 March 2019, up to a monthly cashback total of 50,000 yen (US$443) per customer.

PayPay logoThe 10 Billion Yen Giveaway Campaign is comprised of “a campaign where 20% of the amount of payment made via PayPay is given as PayPay Bonus and a campaign where the full payment amount is given as PayPay Bonus with a chance 40 times ratio,” SoftBank says.

“There will be a campaign for Yahoo! Premium members and SoftBank/Y!mobile smart phone users with chances to win a full cashback, with the winning ratio of 1 out of 20 for Yahoo! Premium users and 1 out of 10 transactions for SoftBank/Y!mobile smartphone users.

“All PayPay merchants are in the scope and be able to make use of this campaign without individual costs to attract clients and increase transactions value with the clients spending more for cashback.

“Furthermore, a campaign to give 1,000 yen worth PayPay balance to all users topping up 5,000 yen or more in their PayPay Balance (only once per user) starts today together with the campaign to give 500 yen PayPay Bonus to SoftBank/Y!mobile smartphone users who register a new payment method.”

The service, which makes use of Indian mobile wallet provider Paytm’s “technology and expertise in mobile payments”, will initially be available at 17,000 FamilyMart stores “all over Japan”.