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Guide to the Next PayPay Recruiting Event! What is PayPay's financial business?

Keiko

03/10/2022

We will be holding a PayPay Recruiting Event on March 18, where we will introduce PayPay’s core business—finance. Ahead of this event, we decided to cover the details of the work and the interesting aspects of PayPay’s unique environment. If you find this article interesting, please feel free to join our event!

Masayoshi Yanase, Division Head, Finance Business Strategy Division

After first joining Vodafone Corp., he subsequently worked in Vodafone Group Marketing, SoftBank Mobile Corp. Product & Service Division, SoftBank U.S. Inc. as the Product Strategy Manager, and SoftBank Corp. Business Development Division as the Fintech Business Planning Manager. He joined PayPay in August 2018 and is in charge of financial services (Pay Later, bonus management, insurance mini app) and mini apps (Uber Eats, DiDi, PayPay Mall, PayPay Flea Market, Accelerator Program).

About PayPay’s Financial Business

The term “financial business” is so broad that it may be difficult to understand what it covers, but to put it simply, PayPay’s financial business is “everything related to money.” Using the power of technology, we want to realize the best ways to use money and solve problems related to money, such as saving, funding, insuring, and borrowing.
PayPay has been working on projects that have had a great impact on society, starting with bonus management, and more recently, the rollout of PayPay Insurance. In this Recruiting Event, the people in charge of Pay Later and PayPay Insurance are going to talk about how the team released these services and inside stories. You can expect intriguing discussions that will be useful for both job applicants and PayPay users.

Organizational Structure of the Financial Business

This unit in charge of PayPay’s financial business was established only in January 2022 and consists of the Finance Business Strategy Division and Finance Business Promotion Division.
The Finance Business Strategy Division is responsible for developing financial business strategies and planning and launching financial businesses. The Finance Business Promotion Division is responsible for collaborating with partners both inside and outside the group and figuring out how to promote PayPay’s financial businesses and app features to the world. That way, more users can make use of our products, consequently maximizing PayPay’s revenue.
My team members have well-balanced and diverse backgrounds. They come from different areas like banking, securities, insurance, and fintech. I have the impression that many of them are not only strong in either finance or technology but have a balanced understanding of both.

Things You Can Do Only With PayPay’s Financial Business

What makes PayPay unique is that we develop businesses at a super-fast pace. It’s not just “fast,” but I mean really fast.
In case of the COVID Insurance recently released in PayPay Insurance, we decided to move up our initial go-live plan and rolled it out to respond to the spread of the pandemic. I think only PayPay can respond so flexibly because we always focus on speed. If we were a long-established financial institution, we probably won’t be able to move the service release date easily once it gets fixed, much less release a product ahead of time. But the folks in charge of PayPay Insurance were able to do this. We’ll tell you more about how we managed it in the event.
In addition, I think it is unique to PayPay that each person can take ownership and be involved in a high-profile business that will have an impact on society.
PayPay’s financial services are strategized with the idea of making it more topical, more newsworthy, and more exciting. For example, we carefully plan the service release date to sync with PayPay’s big news release to take advantage of it. We also set goals so that we can say we are the biggest in Japan in certain areas.
Each member is given a lot of discretion, so it’s up to them to show their ability in developing services that are impactful to society.

PayPay’s Work Style and Its Benefits

There may be a considerable number of people who aren’t comfortable with the idea that they now have to commute to work more often. At PayPay, you can always use the WFA system (work from anywhere at anytime). You can work fully remote, regardless of what’s going on in the world. Some people may feel uneasy about always telecommuting, but personally, I think that a lot of us feel more hesitant about going to the office.
In the Finance Business Strategy Division, there’s no task which must be done at the office, nor do you have to commute to work regularly. The same goes for the Finance Business Promotion Division. Some members live out in the countryside. Thanks to WFA, you can get involved in a state-of-the-art financial business no matter where you live in Japan.

A Message to People Considering Joining PayPay

I’d love to welcome those who can proactively identify issues in existing products and services to improve them further. Because financial businesses has been around for a long time, it’s not easy to change the status quo. I believe that users have gotten used to the inconvenience associated with financial products. I like people who can spot these drawbacks and take ownership to change them (with a focus on speed, of course).
I think this is the perfect place for people who want to create something big and impactful in their careers. Please come to the event so you can get a feel for the atmosphere of PayPay.

Event Date, Time, Location, and Registration

Friday, March 18, 2022, 19:00-20:00 (JST), Zoom
To register for the event, please fill out the application form below. You will be sent the Zoom link along with further information.
Click here to register
*This event is aimed at people with a background or experience in finance, fintech, and IT. Please note that in some cases it may not be possible to attend.

Author: Masayoshi Yanase / Editor: Keiko (PayPay Inside-Out Editorial Team) / Translation: Language Communication Team / Translation Editor: Justin
*Employees’ affiliations and other information are as of the time of the interview.