[Japan] SoftBank makes first salary payments via digital PayPay platform

In Japan, the telecommunications and investment company SoftBank Group and nine affiliated firms have paid digital salaries to their employees, in the country’s first such initiative, The Japan Times reports.

Employees who requested part of their salaries be paid to their accounts under cashless payment services received their pay through the smartphone payment platform PayPay, operated by SoftBank Group affiliate PayPay Corp.

The maximum amount of money that can be received under the program is set at ¥200,000.

SoftBank Group reportedly intends to create an environment where other companies can offer digital salaries.

Japan first began allowing digital salary payments in April 2023. PayPay was approved as the first payment platform by the labour ministry this year, on August 9. 

According to PayPay, over 300 companies subsequently contacted them to enquire about introducing digital salary payments.

Three more companies - including one from the e-commerce giant Rakuten Group - have also reportedly applied to the ministry for approval to be platform providers of digital salary payments.

In Japan, the telecommunications and investment company SoftBank Group and nine affiliated firms have paid digital salaries to their employees, in the country’s first such initiative, The Japan Times reports.

Employees who requested part of their salaries be paid to their accounts under cashless payment services received their pay through the smartphone payment platform PayPay, operated by SoftBank Group affiliate PayPay Corp.

The maximum amount of money that can be received under the program is set at ¥200,000.

SoftBank Group reportedly intends to create an environment where other companies can offer digital salaries.

Japan first began allowing digital salary payments in April 2023. PayPay was approved as the first payment platform by the labour ministry this year, on August 9. 

According to PayPay, over 300 companies subsequently contacted them to enquire about introducing digital salary payments.

Three more companies - including one from the e-commerce giant Rakuten Group - have also reportedly applied to the ministry for approval to be platform providers of digital salary payments.