Paidy is an Internet financial technology company based in Tokyo, Japan, dedicated to providing users with Japanese cardless prepayment services. It was developed by Exchange Corporation, which is headquartered in Tokyo, Japan. About Paidy Paidy was founded because, while credit card penetration is high in Japan, credit card usage is generally low, especially in online shopping. Instead, shoppers are used to paying on delivery or paying cash at convenience stores, which serve as logistics hubs and payment centers in many Japanese cities. Paidy is a new way for consumers to pay in online stores using their name and email address. Optimized for mobile and instant checkout, Paidy allows consumers to buy online quickly and securely, with no credit card or pre-registration required. Operational Model Paidy makes "online payment + payment without credit card" possible. If merchants use Paidy, customers can enter their mobile phone number and email address to check out, authenticate through SMS or voice, and complete the payment, which is similar to a virtual credit card. In order to make it more convenient for users to use, Paidy provides various repayment methods. Consumers can settle their bills every month through convenience stores, bank transfers or automatic debits. How to use 1. Pay with email address and mobile phone number Enter the 4-digit verification code sent to your phone via SMS and complete the payment. You can pay with just your mobile phone number when shopping at various online stores. 2. Shopping in various stores Shopping is available at various stores. 3. Next month, we will send you billing information via email All purchases this month will be sent via email and text message between the 1st and 3rd of the following month, without postage. 4. Payment must be made by convenience store or bank before 10 days Pay at a convenience store or bank by the 10th of the following month (funds transfer is also possible). *The remittance will be deducted on the 12th How to use 1. Shopping with Paidy: 1. Select Paidy on the payment screen of your store (online store). 2. Enter your email address and mobile phone number. 3. Enter the 4-digit verification code sent from Paidy to your mobile phone (SMS). 4. Specify the number of payments (one-time payment or installments). 5. The payment procedure is completed. 6. Confirm payment details via Paidy's email. *Depending on the store, the payment display method may differ. 2. Pay to Paidy: You can pay for a month's usage in one month. 1. The bill amount for the current month (last month's fee) will be confirmed before 13:00 on the 1st of each month and reflected on MyPaidy. 2. Billing information will be sent via email and SMS (short message) between the 1st and 3rd of each month. 3. After the settlement amount is determined on the 1st of each month and the settlement information is sent between the 1st and 3rd of each month, the payment method can be confirmed in MyPaidy. 4. Please pay by convenience store or bank transfer before 10 days according to the above payment method. (Note: Payment at convenience store is cash only.) 5. By registering via direct debit, the amount posted will be automatically deducted from the billed amount on the 12th of the billing month (the next business day if the financial institution is on holiday). The withdrawal date for January and May invoices may be 20 days (or the next business day if the financial institution is closed). We will notify you of the bill amount and payment date (between 1-3 days) by email and SMS. Security 1. Identity verification via verification code A 4-digit verification code will be sent via SMS to the mobile number entered on the payment screen. No need to worry about fraud as payment is completed only after entering the verification code. 2. Payment information is encrypted using TLS Your important payment information is encrypted via TLS (Transport Layer Security) connection, so your payment information will not be leaked to third parties. 3. Monitor payments 24 hours a day, 365 days a year. We monitor all transactions 24 hours a day, 365 days a year to protect our customers from fraud and deception. Financing -In July 2016, Japanese e-commerce payment platform Paidy announced the completion of a US$15 million Series B financing round, led by Eight Roads Ventures and SoftBank affiliates SBI Holdings and SBI FinTech Business Innovation LPS, with participation from Itochu, SIG Asia and Arbor Ventures. -In July 2018, Paidy just announced that it had received US$55 million in Series C financing, led by Japanese trading group Itochu Corporation and followed by Goldman Sachs. -In August 2018, Japanese fintech startup Paidy recently received strategic investment from payment giant Visa, and the amount of financing was not disclosed. |
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