Choosing to Be on the Side That Transforms Finance — Building Work Around Value

In our Professionals series, we spotlight outstanding individuals working across the PayPay Group. This time, we spoke with Rui Watanabe, Senior Manager of Corporate Business Development in the Finance Business Strategy Division. We explore the key decisions that shaped his career, the reality of building financial businesses at PayPay, and the “value-first” mindset that underpins his work.

A Turning Point: Realizing What “Value” Means

When I first joined a bank as a new graduate, I genuinely believed financial institutions were a core part of social infrastructure. If I wanted to support businesses, working at a bank seemed like the most direct path. I had always been interested in entrepreneurs and wanted to be on the “supporting side.” Over time, however, I began to feel a sense of misalignment. Looking back, the environment was driven more by what I would now call a “supplier-side logic.” Following precedent and internal rules was valued more than creating change, and those who excelled within the system were often those who navigated it most effectively. That made me question whether we were truly creating value for users or for society. Around the same time, FinTech was beginning to emerge, and I started to believe that financial services could—and would—change. That was when I decided I wanted to be on the side driving that change.

Another turning point came after I changed roles. A manager once asked me, quite directly, whether I was actually creating value. At the time, I didn’t fully understand what he meant. But in an environment where nothing matters unless users adopt what you build, I had to face that question head-on. By meeting users, receiving direct feedback, and iterating repeatedly, I gradually came to understand that creating value is the only thing that truly matters. From that point on, my decision-making shifted. Instead of focusing on what kind of job I wanted, I began to focus on what kind of value I could create. My perspective also evolved from prioritizing personal growth to thinking more about the impact I could have on society.

Why PayPay: A Platform Built for Impact

Joining PayPay was a natural extension of that thinking. At the time, QR payments had yet to gain full market confidence. Even so, the speed and scale of PayPay’s go-to-market strategy made it clear that this was a company determined to reshape the market. What stood out even more was the strength of its underlying assets. With a large and active user base, continuous transaction data, and deep merchant touchpoints, PayPay has a unique ability to design financial services grounded in real-world behavior. This creates opportunities that traditional financial institutions alone cannot easily replicate. Looking at global trends, it was also evident that payment platforms would inevitably expand into corporate financial services. I saw a significant opportunity in that space and wanted to be directly involved in building new value there.

Business Development: Deciding Where to Play and How to Win

Today, I lead merchant financial services and corporate business development. In simple terms, my role is to define strategy and ensure it is executed. In practice, however, the work is far less straightforward. It involves continuously making decisions—whether to pursue a given opportunity and, if so, how to approach it. Each option comes with its own trade-offs, and the challenge lies in choosing the right path. What matters just as much as deciding what to do is deciding what not to do. Resources are always limited, so focus determines outcomes. I often describe business development as deciding which mountain to climb and how to climb it. Most opportunities are ambiguous. Some have potential; others may not justify the investment. The difficulty—and the appeal—lies in identifying where a real winning strategy exists.

My work today also extends beyond individual products. It increasingly involves collaboration with PayPay Bank and other group entities to expand the broader financial ecosystem. Rather than building isolated solutions, we are designing new financial experiences by combining capabilities across the group. In all of this, I try to anchor decisions not in who is right, but in what creates the most value.

In the Age of AI, Execution Speed Defines Competitiveness

The nature of work has changed significantly in recent years. Tasks that once required considerable time—such as researching best practices—can now be completed almost instantly with AI. As a result, knowledge alone is no longer a differentiator. What matters now is execution speed—how quickly you can act, test, and iterate. In practical terms, it feels as though the balance between planning and execution has shifted dramatically. The majority of value now comes from how effectively you execute, rather than how extensively you plan.

Launching PayPay Shikin Chotatsu

One project that stands out is the launch of PayPay Shikin Chotatsu(PayPay Funding).（reference article）At the outset, we were not even certain whether there was sufficient demand. User interviews did not provide clear validation, and we moved forward with a significant degree of uncertainty. Once the service was launched, however, adoption exceeded expectations. We began to see real-world needs that had not been fully visible during the research phase, such as urgent funding requirements caused by equipment failures.

A key priority in this project was delivering a simple user experience. Initially, there was an assumption that the service would primarily be used on desktop. However, through discussions with senior leadership, we concluded that many merchants would access the service during short breaks while on-site or on the move. Based on this understanding, we made a deliberate decision to design the experience for mobile use.

Another challenge was that the product itself—future receivables financing—was not intuitive for merchants. We deliberately avoided positioning it as something that required extensive explanation. Instead, we focused on making it immediately understandable through the user interface and experience. Designing a simple experience that doesn’t expose the underlying complexity was one of the most difficult and important aspects of the project.

A High-Standard Environment That Elevates You

The corporate business development team operates under high expectations. It is not an easy environment, but that is precisely what makes it valuable. There are frequent opportunities to engage directly with leadership on key decisions, and the proximity to decision-making accelerates learning. Working alongside professionals from diverse backgrounds—including finance, product, and sales—also broadens one’s perspective.

On a personal level, I have been balancing my work with raising two young children. Even in a demanding environment, I have found it possible to manage both without treating them as a trade-off. Ultimately, the role involves making decisions in situations where there is no clear answer, and seeing those decisions translate directly into business outcomes. The responsibility is significant, but so is the sense of impact.

Creating Meaningful Impact

My goal is straightforward: to create a meaningful impact. Having spent my career in financial services, I have always felt there are areas that need to change. I want to contribute to shaping that change and to build services that people can point to and say made a real difference.

For Those Who Want to Drive Change

PayPay is not an easy environment. Expectations are high, and the challenges are real. At the same time, the opportunities are equally significant. If you want to be on the side that drives change rather than simply following it, this is an environment where you can do that.

The work involves navigating complex decisions with no clear answers, constantly determining where to focus and what to leave behind. But when your decisions translate into tangible impact, the experience is uniquely rewarding. If you are motivated to create value yourself, we would be glad to work with you.

*Information such as job openings and employee affiliations is accurate as of the time of the interview.