Free Transfer Fees for PayPay Balance to Sumitomo Mitsui Banking Corporation Accounts

Sumitomo Mitsui Banking Corporation (President & CEO: Ryohei Fukutome, hereinafter "SMBC") and Sumitomo Mitsui Card Company, Limited (President & CEO: Takeya Sasaki, hereinafter "SMCC") are pleased to announce that, as part of a comprehensive business alliance in the digital field with SoftBank Corp. (President & CEO: Junichi Miyakawa, hereinafter "SoftBank"), effective today, transfers (withdrawals) of PayPay balance from PayPay Corporation (President, CEO & Representative Director: Ichiro Nakayama, hereinafter "PayPay") to SMBC accounts will be free of charge up to five times per month.

This initiative aims to enhance the convenience of customer fund management by streamlining the connection between the widely used cashless payment service and bank accounts. We are committed to creating an environment where daily payments, deposits, withdrawals, and account management can be utilized more conveniently.

Background and Objectives

Through the comprehensive business alliance with SoftBank announced on May 15, 2025 (Thu), SMBC and SMCC are working to provide new value by combining cashless payments and financial services.

Following the mutual exchange of V Points and PayPay Points with SoftBank in March 2026, this initiative to make transfers of PayPay balance to SMBC accounts free of charge is a subsequent measure to improve convenience.

As the use of cashless payments becomes more integrated into daily life, smoothly connecting balances within payment services and bank accounts is a crucial element for customer fund management. Through this initiative, we aim to reduce the burden of moving PayPay balance to SMBC accounts and provide a more user-friendly financial and payment experience.

Service Overview

For details, please check the PayPay website.

https://paypay.ne.jp/help/c0042/

We will continue to strengthen the integration of various services across company boundaries and enhance our financial services to provide further convenience to our customers.

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In addition to this initiative, as part of the alliance with SoftBank, "Olive," offered by SMBC and SMCC, will soon add a payment method using PayPay balance to its flexible payment modes. Through "Olive," payments using PayPay balance will be possible at Visa merchants worldwide.

About "Olive"

Launched in March 2023, "Olive" is a comprehensive financial service that seamlessly combines functions such as banking, card payments, finance, online securities, and online insurance within a single app. Since its launch, we have continuously improved the service and its features to make it more convenient and user-friendly for our customers, responding to their feedback with services like automatic fixed deposits, account rank switching functions, family card issuance, and additional payment modes.

For details, please check the Sumitomo Mitsui Banking Corporation website.

https://www.smbc.co.jp/kojin/olive/?aff=CP05228_o_snsOTH_CT59827_txt&utm_source=sns&utm_medium=OTH&utm_campaign=CP05228_o_snsOTH_CT59827_txt