This Project Story series will focus on what takes place behind the scenes of PayPay Group’s significant projects.
We will delve into the difficulties and the pivotal mindset which led to the success of each project through anecdotes of those who were in charge.
In this issue, three members of PayPay Securities talked about how they handled NISA account applications.
Mami Sasaki
Marketing Department, Marketing Division (concurrently Public Relations Department, Corporate Planning Division, and President’s Office)
After working in web marketing in the beauty and wedding industries, I joined PayPay Securities in August 2021 and was assigned to the Marketing Department. I am responsible for campaign planning and promotion of the Earn Points and Invest mini apps.
Akiho Usui
Deputy Senior Manager, Business Planning Department, Business Promotion Division
I joined SoftBank Corp. after graduating from university, where I worked in portfolio management and fintech industry research, after which I was transferred to PayPay Securities. I am in charge of product planning and promotion for the Earn Points and Invest mini apps.
Kaho Yanagisawa
Business Planning Department, Business Promotion Division
I joined PayPay after working for a foreign securities firm. In November 2020 I was assigned to the Account Sales Department, Enterprise Sales Division, where I was responsible for corporate sales to major convenience stores, drugstores, and retail companies.
In 2022, I was assigned to the Finance Business Development Department through PayPay’s internal recruitment. In April 2023, I was concurrently seconded to PayPay Securities’ Business Planning Department, where I am responsible for the planning and promotion of new services.
Committed to Putting Users First in the NISA Account Project
Tell us about your current responsibilities
Usui:
I am in charge of the entire process from planning to operation of the release and functional enhancement of the Invest mini app, which is the core of our securities business. In order to steadily manage the process from defining specifications to project launch and release, I coordinate with internal and external stakeholders (especially PayPay), request legal checks, and deal with issues that occur daily.
Yanagisawa:
I often work with Usui-san, but I am on secondment and this is a concurrent position, so I consider myself a link between PayPay and PayPay Securities. We are working to fully synergize the two companies, so I make an effort to communicate with everyone involved when creating new or better services.
Sasaki:
I also hold two positions, doing marketing in PayPay Securities and marketing in the finance business of PayPay. My role is to share knowledge and collaborate with PayPay to plan various promotions and advertise the service so that more people use it.
You started accepting NISA account applications on October 1. Can you give us a brief overview of the service?
Usui:
For details, please see our service page, but NISA (Nippon Individual Savings Account) is a small amount investment program that exempts the 20% tax that is usually imposed on profits earned from asset management. NISA began in 2014, but the details of the program will change from 2024, such as increasing the amount of money that can be invested tax-free. Plus, the period during which the invested amount is tax-exempt will be indefinite, so users can further reduce their taxable income.
Although people generally consider asset management to be difficult, the application process with PayPay Securities can be finished in as little as 4 minutes, and you can easily start your investment journey with 100 yen worth of PayPay Money or PayPay Points. We believe that taking advantage of PayPay’s investment services will be an important opportunity for beginners to invest.
Looking back, how do you feel about the project?
Usui:
Our department, including Yanagisawa-san, became the project owner and started to review the specifications with a comfortable schedule, or so that was the plan. In fact, since there was no precedent, it felt like groping our way forward. First of all, the NISA (and New NISA) program is complicated, so we aimed to make the account opening flow as plain and simple as possible so that first-time investors would not feel intimidated by the program.
Yanagisawa:
We had to understand the ins and outs of the new NISA and optimize specifications instead of copying other companies. It was a daunting task for a small group like us to carry out the entire process from specification review, project management, identifying tasks, and translating all of them to the UI/UX of the mini apps.
Sasaki:
I was in charge of planning and driving measures and promotions to make as many users as possible aware of PayPay Securities and apply to our services. Since both product and marketing initiatives needed to be released simultaneously, close communication and coordination among all parties involved was a must.
What was the hardest part of the project?
Usui:
During the specification review process, there were many conflicting opinions between departments and companies, so we were quite worried about the possibility of delaying the release of the product. In the end, I think we managed to release on time because we had the common goal of getting top-of-mind awareness with NISA, which induced us to supplement each other’s weak points.
Yanagisawa:
Whatever the project may be, and regardless of position, both PayPay and PayPay Securities members have a passion for creating a good service. So, even in marketing-related work, I may have sent some unreasonable requests to Sasaki-san during the negotiation processes with PayPay.
Sasaki:
Because everyone was equally committed to making something great despite the difficulties, I was simply kicking hard and trying to not drown in the plethora of tasks. Not unlike floundering in the waves when surfing, which happens to be my hobby (laughs).
Yanagisawa:
I didn’t notice because you always seemed so composed (laughs). Now we are all putting the final touches to prepare for the investments starting 2024. Just a bit more to go, I guess!
Dedicated to Creating Products by Leveraging Speed and Diversity
Despite all the busyness, what do you keep in mind when working?
Yanagisawa:
If it’s out of the PayPay 5 Senses, then the most important attitude for me would be “Believes in our product & team.”
You tend to grow a liking for something you use every day, right? I think creating products with trusted colleagues and with conviction leads to products that users love using.
Usui:
For me, “Ego is not welcome, communication is necessary.”
Since I coordinate with team members and other departments every day, I aspire to become somebody who can both be in my colleague’s shoes and have them think, “I wouldn’t mind doing this task for her.” I believe that once everyone gets past their ego, we can produce a truly user-centric service, which is what we are aiming to do in the first place.
Sasaki:
It’s also “Ego is not welcome, communication is necessary” for me, just like Usui-san.
First and foremost, I try to make pleasant conversations with members I come in contact with every day to maintain a comfortable work environment for everyone. Then, I work with the image of users having more choices to enrich their lives with the products created by my colleagues.
What is the culture of the Business Promotion Division and the Marketing Division?
Sasaki:
We are a group of people with differing values, but one common characteristic we share is an uncompromising attitude to achieving high goals. I think everyone really works hard.
Usui:
My division is responsible for services that play a central role in PayPay Securities’ business, so there are numerous projects, but we work swiftly, making the most of each person’s strengths.
Yanagisawa:
Many of us are in our 20s and 30s, so there is no uptight vibe. Employees have the opportunity to speak with the president once a week, where we share issues and ask questions, so the speed at which things move forward is like nothing I’ve experienced before.
I heard that many women are active in marketing and intra-group coordination?
Usui:
Yes, I am a Deputy Senior Manager and my superior is also a woman. There are no gender barriers, and I believe our company is a place where aim for a managerial position.
Yanagisawa:
While the financial industry is generally seen as male-dominated, I love the diversity in PayPay Securities. Many people act without being ordered and are willing to take up challenges.
Sasaki:
In an environment with people from diverse backgrounds, I think it is important to have an organizational climate in which people can actively express or accept different opinions. And indeed, such an atmosphere is in the making in both in the Marketing and Business Planning Departments, which may be one of the factors that make it easier for women to play an active role.
Making Asset Management Easier and More Accessible
What is the most rewarding aspect of working in your team?
Usui:
It may be baby steps, but we move forward by clearing small issues every day toward the goals of service release and growing as a company. Plus, you can see firsthand the value of those launched services in numbers. As for the NISA project, the number of applications for opening an account exceeded 100,000 in less than two months since we started accepting applications—far more than we expected.
Yanagisawa:
Another rewarding factor is that we are pioneers in the industry, so we can think of new ways to invest and give shape to those ideas on our own. We all want the company to grow, so people here are willing to listen to anyone’s opinions. So in summary, you have challenges to tackle, opportunities to grow, and the future of asset management packed into one company!
Please share with us the goals and missions you’d like to accomplish in the future
Usui:
First, we want to release the new NISA trading service by the end of the year. We will then finally have a platform from which we can market PayPay Securities as a platform for investment beginners. Just as PayPay has rapidly penetrated the market as a payment method, I hope PayPay Securities can follow suit.
Yanagisawa:
The most important goal is to make users feel that PayPay Securities’ services are easy to use. And my biggest personal mission is to make asset management accessible and familiar to those who feel uneasy about it. We still need to address many issues to make that a reality, but we feel that the awareness of the company and expectations for our future are growing as high as PayPay’s Day 1 period.
Sasaki:
As Yanagisawa-san said, we would like the idea of “I’ll try PayPay Securities for my first investment” to penetrate society by pursuing ease-of-use of our services and communicating the uniqueness of PayPay Securities!
Finally, what kind of person do you think would flourish at PayPay Securities? A message for our readers please!
Yanagisawa:
If you are passionate about your work and are always looking forward towards the future, not the past or the present, you can play an active role regardless of your background.
Sasaki:
We are now at a juncture, where people are starting to think differently about growing their assets. So by marketing asset management with PayPay as the starting point, you can tangibly experience a major change in society. If you are looking to build your career in an environment chock-full of challenges and where you can fully leverage your talents, this is the place to be. We are looking forward to hearing from you!
Usui:
PayPay Securities is still in its infancy in the securities industry, but there have been significant changes in just the few years I’ve been with the company. Anyone who is tough enough to enjoy these changes will be successful. I’m also looking forward to working with you to become the industry leader.
Current job openings
*Job openings and employee affiliations are current as of the time of the interview..