ADVASA Co., Ltd.
ADVASA and LINE Pay start a new charge scheme
ADVASA Co., Ltd. (Advasa, head office: Minato-ku, Tokyo, CEO: Tomomitsu Kosugi, hereinafter: ADVASA) and LINE Pay Co., Ltd. (head office: Shinagawa-ku, Tokyo, President Takashi Maeda, hereinafter: LINE Pay) , regarding the benefit payment system “FUKUPE”, we will start a charge scheme to the smartphone wallet service “LINE Pay” as a payment method for the funding service as a welfare benefit within the employee’s attendance.
ADVASA, a Fintech venture, allows employees to immediately access the amount equivalent to their salary for their work at any time. We are developing the welfare payment service “FUKUPE”, which will be a platform for financial services, and are also working on the development of a business operation system that supports salary digital money payment in the future.
Furthermore, digital assets and non-fungible tokens (NFT) used in the next-generation Internet/Web3, which the Financial Services Agency has started discussing, will be distributed in a new market created by blockchain (distributed ledger) technology. Regarding assets, we are proceeding with development and demonstration experiments with overseas partner companies that have a reliable and proven track record. Our goal is to create a “Web5” world that aims to build a decentralized web platform that manages information.
Enable each person to have self-sovereign digital personal information and various certificates through “Verifiable Credentials – VCs”, which is a core element and great advantage of “Web5”. This eliminates the need to register your personal information, set and manage passwords for each service, and create a profile, which has been required when using various services. We will build a world of “self-management of data” by granting access authority. As a result, employers can also benefit from transparent worker information, enabling them to make appropriate hiring and evaluations at lower costs.
And this time, setting a free period for charging fees when employees immediately access the amount equivalent to the amount of work they have done at any time is another step towards “realization of financial inclusion” that ADVASA has been advocating since its establishment. It is a step forward, and in the future we would like to make the charging fee completely free.
Why do people have to wait for several weeks to receive their wages even though they have finished their work for the day and their wages have already been fixed? Why pay a fee to access that wage when you need it? In order to answer this simple question, ADVASA aims to build an infrastructure where every day is a payday, and provide new financial solutions that can be tailored to the needs of each worker. The field of immediate access to salary equivalents is called EWA (Earned Wage Access) or on-demand pay in the United States, and is widely used as a necessary mechanism for workers in general and employers regardless of employment form.
This time, we will start a service that will charge the smartphone wallet service “LINE Pay” with funds for welfare benefits within the attendance range of employees at “FUKUPE”. With the launch of this service, employees will be able to receive funds in real time with LINE Pay as long as they have a smartphone, even if they do not have a wallet, regardless of the day of the week or time of day. In addition, payment can be made easily and quickly at LINE Pay merchants. With the launch of this service, we will provide LINE Pay recharge fees virtually free for a certain period of time, hoping that more users will experience the convenience of receiving funds in real time and seamless payment functions. increase.
LINE Pay is a mobile remittance and payment service that can be easily started and used from LINE, Japan’s largest communication app. LINE provides convenient functions related to money, such as sending money and splitting bills with friends, and the LINE Pay Easy Remittance Service, which allows companies to send money to individuals 24 hours a day, 365 days a year.
In addition to code payments, the mobile payment service “LINE Pay” offers a variety of payment methods to improve user convenience. We support various payment methods such as deferred payment for cards. In 2021, we will start linking with PayPay for code payments, and LINE Pay users will be able to make payments at PayPay member stores using the user scan method, in addition to paying at conventional LINE Pay member stores.
[About ADVASA Co., Ltd.]
With the realization of financial inclusion as one of its missions, ADVASA is developing the employee funding system “FUKUPE”, focusing on partnership strategies by providing embedded financial functions and providing patent licenses for immediate access to payroll schemes. is expanded to
Japan, the United States, South Korea, Singapore, etc. have already acquired patents, and in the intellectual property (IP) industry, we have a global network including the United States, Europe, and China, and have developed a platform specializing in patent transactions. We are also promoting overseas expansion in partnership with companies that handle such things.
In Japan as well, the ban on digital salaries is scheduled to be lifted in 2023, and while there is a growing trend toward changes in the way salaries are received, we will promote cooperation and discussions with payment companies to enable immediate receipt of salaries. We will proceed with preparations to provide the original EWA function.
Company name: ADVASA Co., Ltd.
Representative: Tomomitsu Kosugi, Representative Director
Location: Akasaka K Tower 4F, 1-2-7 Motoakasaka, Minato-ku, Tokyo Established: April 2017
Capital: 1,050,000,000.22 yen (including capital reserve)
・Development of funding system for workers ・OEM provision
・System development for Fintech, AI, blockchain, etc.
[About LINE Pay Corporation]
Company name: LINE Pay Corporation
Representative: Takashi Maeda, President and CEO
Location: 1-1-1 Nishi-Shinagawa, Shinagawa-ku, Tokyo Sumitomo Fudosan Osaki Garden Tower 22F
Established: May 9, 2014
Details about this release: