1 As of August 2025
 

2 　　 Company Overview
 November 20, 2017
 Established
 Tokyo, Fukuoka
 Offices
 Establishing new finance-related businesses
 Business Activities
 

3 　　 Leadership
 
 Director, CFO
 
 Sayaka Eda
 Formerly Managing Director at Goldman Sachs Japan Co, Ltd.
 Representative Director, CEO
 
 Takeshi Nagasawa
 After being in charge of growth for the mobile payment service Merpay, oversaw growth for Mercari Group’s fintech operations before assuming the role of CEO (Fintech)
 
 Vice President, Chief Technology Officer
 
 Shunya Kimura
 
 Led the establishment of R4D (Mercari’s research and development organization) and the implementation of AI for Mercari Group 
 Director
 
 Masato Yamamoto
 Formerly Head of Partner Sales at Google Japan Enterprise, and Head of Apple Pay Merchant Business at Apple Japan
 Director
 
 Kyosuke Nobukawa
 Formerly worked at Sumitomo Mitsui Card Co., Ltd.
 

4 　　 Leadership
 Director, CRCO
 
 
 Masahiro Shidachi
 Formerly Head of the Group Risk Management Head Office at Nomura Holdings, Inc., in charge of credit risk management and enterprise risk management for Nomura Group
 Vice President,
 CXO
 
 Mayumi Narisawa
 Formerly Head of Design
 at Merpay
 
 Vice President of Growth (Fintech) 
 
 Heesung Lee
 Was in charge of leading the growth of the payment and credit businesses, including Mercard. Also managed the division in charge of platform development for growth. Assumed VP position in July 2024.
 Vice President of 
 HR
 
 Ai Miyakawa
 Former Head of Human Resources of Cisco Systems, G.K. 
 Vice President, CPO
 
 
 Keita Nakamura
 Worked on mercariX at R4D, then moved to Merpay as a PM overseeing development of distributed ledgers, anti-money laundering systems, and new finance businesses. Has concurrent role as CEO of Mercoin, Inc.
 

5 　　 Leadership
 Vice President of Engineering
 
 Satoru Joraku
 Former CISO of Sansan, Inc.
 Vice President,
 CISO
 
 Yuki
 Saito
 In charge of system risk and security in the Fintech domain as Head of IT Risk and Security 
 
 
 Vice President of Engineering
 
 Keigo Watanabe
 Former Head of Engineering of Souzoh, Inc. 
 
 

6 Mission 

7 　　 What Is Merpay?
 Merpay is a mobile payment service operated by Merpay, Inc., that can be used within the Mercari marketplace app.
 
 This service enables users to utilize their Mercari sales balance1, funds added to their Merpay balance from a bank account or ATM, or the BNPL (buy now, pay later) Merpay Smart Payments service to pay for purchases at physical stores and online with their smartphone. Merpay supports both iD contactless payments2 and code payments and can be used at JCB merchants across Japan with Mercard, a credit card with a point-back rate that increases based on use of Mercari and Merpay.
 
 1. In order to use Mercari sales balance, users must configure certain settings or use their sales balance
 to purchase Mercari points.
 2. ”iD” is a registered trademark of NTT DOCOMO, INC.
 

8 　　 Mercari Group’s “Circular Finance”
 The addition of Merpay (money and credit) and Mercoin (cryptoassets) to Mercari’s item lifecycle creates a circular relationship between users’ items, money, and credit, facilitating the growth of “circular finance” that grants users greater freedom and flexibility. It provides users with a valuable, uniquely Mercari experience.
 Payment
 Credit
 Crypto-
 assets
 Money
 Sales Listing
 Aiming to achieve 
 their dreams
 Bitcoin
 Ethereum
 XRP
 Money
 Mercard
 Transaction
 History
 Credit Information
 Value Circulation
 Goods
 

9 　　 Fintech’s Three Focus Areas
 Pay for everyday purchases all at once the following month
 Pay over several months at a user-set fixed amount or over a specified number of installments
 iD payment
 Code payment
 Various payment methods available
 Various services that utilize unique credit based on
 behavior history such as usage history on Mercari
 Payment
 Credit
 Asset Management
 Hold your phone over
 a reader
 Scan a code
 Virtual
 card
 Input a card number
 
 Borrow when needed and repay flexibly: interest rates fluctuate depending on the borrower's usage of Mercari
 Credit card Lump-Sum Payment
 Installment Payment /
 Fixed-Amount Payment
 Merpay Smart Money
 Merpay Smart Payments
 Credit card (Mercard)
 Service that allows users to buy and sell bitcoin and other cryptoassets* from within Mercari
 *Cryptoasset-related services are provided by Mercoin, Inc.
 

10 　　 Fintech’s Three Focus Areas
 Pay for everyday purchases all at once the following month
 iD payment
 Code payment
 Various payment methods available
 Various services that utilize unique credit based on
 behavior history such as usage history on Mercari
 Payment
 Credit
 Asset Management
 Hold your phone over
 a reader
 Scan a code
 Virtual
 card
 Input a card number
 
 Borrow when needed and repay flexibly: interest rates fluctuate depending on the borrower's usage of Mercari
 Credit card Lump-Sum Payment
 Merpay Smart Money
 Merpay Smart Payments
 Credit card
 (Mercard)
 Service that allows users to buy and sell bitcoin and other cryptoassets* from within Mercari
 Installment Payment /
 Fixed-Amount Payment
 *Cryptoasset-related services are provided by Mercoin, Inc.
 Pay over several months at a user-set fixed amount or over a specified number of installments
 

11 　　 Number of Merpay Users/Verified Users Note: As of June 30, 2025, the aggregated number of unique users (excludes users who have deleted their accounts) who had registered for Merpay Electronic Money, set up Virtual Card, applied for Mercard, opened an account for exchanging cryptoassets, or used Merpay QR Code Payments, Online Payments, or Merpay Smart Payments (lump-sum payment or fixed-amount payment), etc.
 
 Identity Verification Rate
 (Million users)
 Million users
 
 Million users
 
 94.3%
 

12 　　 Start-up fees 
 0 JPY
 Service fee for merchants
 2.6%
 Expanding the Number of Merchants Using Merpay
 There are no start-up fees for merchants to start using Merpay, and we only charge a fixed fee of 2.6% per transaction. Since September 2020, Merpay and d Payment have used a shared QR code for their mobile payment services. 
 Both companies have also partnered to promote their services to merchants.
 
 

13 　　 Building a Primary-Secondary Distribution Cycle
 with Mercari and Merpay
 Receives sales proceeds/adds money to balance
 Receives item
 Mercari Group’s services form a sustainable cycle in which users sell things they no longer need on Mercari and use the resulting sales proceeds to shop at physical and online stores (primary distribution) through Merpay.
 Sells things they no longer need on Mercari
 Buys new things using Mercari sales balance
 

14 　　 Fintech’s Three Focus Areas
 Pay for everyday purchases all at once the following month
 Pay over several months at a
 user-set fixed amount or over a specified number of installments
 
 
 
 iD payment
 Code payment
 Various payment methods available
 Various services that utilize unique credit based on
 behavior history such as usage history on Mercari
 Payment
 Credit
 Asset Management
 Hold your phone over
 a reader
 Scan a code
 Virtual
 card
 Borrow when needed and repay flexibly; interest rates fluctuate depending on the borrower's usage of Mercari
 Credit card Lump-Sum Payment
 Installment Payment /
 Fixed-Amount Payment
 Merpay Smart Money
 Merpay Smart Payments
 Credit card
 (Mercard)
 Service that allows users to buy and sell bitcoin and other cryptoassets* from within Mercari
 Input a card number
 
 *Cryptoasset-related services are provided by Mercoin, Inc.
 

15 　　 Merpay Smart Payments—
 A Credit Service Based on “Trust”
 Notes: Users 18 or 19 years of age have an upper usage limit of 100,000 yen. (Feature not available to users under the age of 18).
 Fixed-amount payment not available to high school students.
 
 ● Smart Payments enables users to pay for purchases later, with the credit limit determined by their Mercari usage history.
 ● The service also allows users to set their own usage limit and check their usage history, so they can manage their payments themselves.
 ● Smart Payments provides flexible deferred payment, installment payment, and fixed-amount payment options, allowing users to adjust repayment amount at any time.
 ● Users can also use installment payment (two-installment payment) without incurring fees.
 
 

16 　　 Merpay’s Definition of "Trust"
 We measure “trust” based not on who people are, but on what they have done.
 We determine whether a user will uphold their promise to repay based on their unique transaction data from Mercari. In this way, we can build trust, creating a new form of credit for the user.
 Notifies about completed payment
 Reviews
 Receives sales proceeds
 
 Purchases/pays to
 Reviews
 Sends
 Lister
 Buyer
 Length of employment
 Address
 Income
 Occupation
 Family structure
 

17 　　 Increasing Opportunities to Expand AI Credit, the Core of Deferred Payment Services
 In April 2021, the Installment Sales Act was partially revised, allowing AI to be used to determine credit rather than traditional credit systems.
 As a result of the new system, business operators began offering small-sum deferred payment services, accelerating the momentum of deferred payment services in Japan.
 Aug 2021
 Merpay acquired AI credit certification
 - Merpay acquired the first certification on August 27, 2021
 - This enabled Merpay to calculate how much a user could affordably be expected to pay based on data such as Mercari usage history
 
 Apr 2021
 Bill to revise the Installment Sales Act announced
 A bill to partially revise the Installment Sales Act was ratified by the cabinet in March 2020 and announced in June of the same year
 
 
 
 Revised Installment Sales Act enacted
 The revised Installment Sales Act defined the following two points, among others:
 1. Introduction of regulations for small-sum deferred payment made in installments
 2. Allowance for enhanced screening methods
 This introduced a registration system for business operators providing small-sum (100,000 yen or less) deferred payment services and enabled the use of AI for credit screenings instead of traditional screenings to determine the amount a user is likely to be able to pay.
 
 
 
 

18 　　 Visualization of Usage Status and Flexible Payment Methods
 Displays the amount of time until repayment is complete, as well as the monthly payment amount and fees
 Enables flexible payments
 + Can use Mercari sales balance
 + Can pay whenever you want
 + Can adjust the payment amount after purchase
 Visualizes usage status
 Allows users to create a payment schedule that reasonably fits with their lifestyle
 

19 　　 Deferred Payment Service Usage
 
 
 (Merpay, October 11, 2021: “Survey on Consumption and Payment Methods” (https://jp.merpay.com/news/2021/10/202109bnplsurvey/))
 Usage rate of deferred payment services
 (Single answer/n=800)
 ■ Has used deferred payment
 ■ Has not used deferred payment
 (Usage within the past year)
 ■ Usage of deferred payment services by age range
 Percentage of credit card holders among
 users of deferred payment services
 (Users of deferred payment services/n=249)
 ■ Has a credit card　■ Does not have a credit card
 30% of people use deferred payment services. This number tends to be particularly high in younger age groups
 Over 70% of deferred payment
 service users have a credit card
 

20 　　 Users of deferred payment services
 are more interested in
 managing their finances
 Users Choose Deferred Payment for Ease of Management
 (Merpay, October 11, 2021: “Survey on Consumption and Payment Methods” (https://jp.merpay.com/news/2021/10/202109bnplsurvey/))
 Issues of credit card users/
 Reasons for using deferred payment services
 (Results from respondents in their 20s–30s)
 Issues faced when
 using credit cards
 (Multiple answers allowed / Users of deferred payment services in their 20s–30s / n=111)
 Reasons for using
 deferred payment services
 (Multiple answers allowed / Users of deferred payment services in their 20s–30s / n=46)
 I end up
 spending too much
 
 It’s hard to tell
 how much I
 spent
 
 I’m worried about
 security, like leaks
 of my personal
 information or
 card number 
 ①
 ②
 ③ 49.5% 24.3% 19.8% I can change the
 timing of my
 payment
 
 It’s easy to tell
 how much I have
 spent
 
 
 It’s easy to plan
 ahead for payments
 ①
 ②
 ③
 60.9% 34.8% 30.4% Usage of deferred payment services and interest in managing finances
 Do you have a system for keeping track of your income and expenses, such as an account book or a notebook?
 (Respondents who answered that they regularly keep track of their monthly income and expenses / n=700)
 Q. Respondents who answered that they regularly keep track of their income and expenses using an account book or notebook, a smartphone app, or a computer program such as Excel
 Deferred payment service users
 Non-deferred payment service users
 With credit cards, it’s easy to overuse them. Deferred payment services have the
 advantage of both usage and payment
 being easy to manage 
 

21 　　 User Examples
 
 A woman in her 30s
 A woman in her 20s
 Mainly uses deferred payment services
 Frequently makes large payments when shopping for contact lenses, clothes, food, etc.
 
 + It’s easy for her to visualize her usage
 + She can carefully manage payment amounts and timing herself
 Uses Merpay Smart Payments for everything
 Uses iD contactless payment at physical shops and the virtual card online
 
 + When she exceeds her personal budget, she can adjust her budget by selling things she no longer needs
 + She can see her history for buying and selling things all on the same app
 Main payment method
 Usage scenarios
 Reasons for use
 

22 Mercard—Used and Managed in the Mercari app
 In November 2022, we started providing Mercard, a credit card whose credit limit (up to 900,000 yen) is determined by the user’s Mercari usage history and which can be used and managed within the Mercari marketplace app. Together with the launch of Mercard, we also began offering up to 4% points back when users use their Mercard or deferred payment through Merpay Smart Payments. The point-back rate for purchases made on Mercari can be increased not just by making payments at stores, but by buying and selling items on Mercari.
 
 

23 　　 Launched Mercard Gold in March 2025
 
 2% points back on everyday purchases
 Maximum usage limit of 3 million JPY
 Complete lineup of additional services
 (Includes shopping insurance, smartphone insurance, travel insurance, and free usage of airport lounges)
 Bonus point awards
 according to annual usage
 No annual fees
 If card usage is 
 500,000 JPY/year or more
 

24 We have issued as many as 5 million1 Mercards. Mercard allows users to make purchases at approximately 56 million JCB merchants worldwide2, on top of the stores that support code payments and iD payments.
 Code payment
 iD payment
 1. Number of cards issued as of June 30, 2025.
 2. Number of JCB merchants as of March 31, 2025. Mercard is a credit card shopping service.
 Mercard
 More than 
 5M 
 cards issued
 Significantly Increasing Stores Supporting Merpay Payment
 

25 The Four Pillars of Mercard
 Complete the Mercard application from the Mercari app in as little as one minute
 Point 1
 The initial application takes as little as one minute for Mercari users who have already verified their identity (using eKYC). You can receive your card through the mail and start using it in as little as four days.
 
 Verified users 
 17.9 million
 Visualize and manage your Mercard usage right from
 the Mercari app
 Point 2
 When your Mercard is used, you will receive an instant notification right to your Mercari app. You can also check your usage history, set spending limits, and make partial payments.
 
 (As of Dec. 31, 2024) 

26 The Four Pillars of Mercard
 Flexibly choose the timing
 and method of your
 payments
 Point 3
 Payments are made each month for the amount used in the previous month, but you can use your Mercari sales balance and make payments at any time, from the first to the last day of the month. Furthermore, while you can pay for an entire month of card use at once in a lump-sum style payment, Mercard also allows you to select individual purchases to pay for in advance of others.
 Benefit from a unique credit system that doesn’t rely only on conventional factors like age and occupation
 Point 4
 Merpay’s credit services are easy for anyone to use, leveraging a unique form of credit based on past Mercari and Merpay usage rather than only conventional factors like age, occupation, and annual income.
 
 
 Length of employment
 Address
 Income
 Occupation
 Family structure
 

27 Features That Make Mercard Safe & Secure
 Plus... 
 Mercard is delivered through the mail, so you don’t have to worry if you aren’t home when it arrives. Even after it arrives, it can’t be used until you personally activate it by opening the Mercari app and touching your phone to the card. (Only available for devices that support NFC)
 Three Features That Make Mercard Safe & Secure
 Numberless
 Your card information is managed on the app
 Instant notifications
 You can confirm your usage details from the app or an email notification instantly
 Freeze your card from the app
 In the event of an emergency, like theft or loss, you can freeze your card easily from the app
 

28 Constant Point-Back Rewards System
 In addition to the launch of Mercard, we have started offering point-back rewards to Mercard and Merpay Smart Payments deferred payment users. Using these services, users receive 1% points back for purchases made at stores and a maximum of 4% for purchases made on Mercari. We also offer a special promotion on the 8th of every month, in which users are rewarded 8% of the amount they spend on purchases within and outside of Mercari as points (up to 300 points), added to the regular point-back rate for a maximum point-back rate of 12%.
 
 + Up to 12% points back
 

29 　　 ● In August 2021, we launched Merpay Smart Money, a small-sum loan service that Mercari users can apply for within the Mercari app and that utilizes Mercari usage history to determine a user’s interest rate and borrowing limit
 ● The service focuses on not only providing appropriate credit, but making that credit balance easy to repay, allowing users to repay using their Mercari points/sales balance and change their monthly repayment day, repayment amount, and other repayment plan details within the app
 ● Credit limits range from 5,000 yen to 500,000 yen based on the user’s Mercari usage history, with a yearly interest rate of between 3% and 15%.
 Merpay Smart Money—Small-Sum Loan Based on Mercari Usage
 　　　
 Maximum borrowing limit is 500,000 yen. Interest rate and borrowing limit are determined through a screening process based on the user’s Mercari usage history. Not available to users less than 20 years of age or over 70 years of age.
 
 

30 　　 Key Features of Merpay’s Safe and Secure
 Credit Services
 Credit based on Mercari usage history
 Flexible payment methods
 Visualizes usage status
 Mercari sales balance
 We also have a dedicated team working daily to improve quality of the service, and we’re working to incorporate external experts’ opinions regarding provision and administration of the service
 

31 　　 Fintech’s Three Focus Areas
 Pay for everyday purchases all at once the following month
 Pay over several months at a
 user-set fixed amount or over a specified number of installments
 
 
 
 
 iD payment
 Code payment
 Various payment methods available
 Various services that utilize unique credit based on
 behavior history such as usage history on Mercari
 Payment
 Credit
 Asset Management
 Hold your phone over
 a reader
 Scan a code
 Virtual
 card
 Input a card number
 
 Borrow when needed and repay flexibly: interest rates fluctuate depending on the borrower's usage of Mercari
 Credit card Lump-Sum Payment
 Installment Payment /
 Fixed-Amount Payment
 Merpay Smart Money
 Merpay Smart Payments
 Credit card
 (Mercard)
 Service that allows users to buy and sell bitcoin and other cryptoassets* from within Mercari
 *Cryptoasset-related services are provided by Mercoin, Inc.
 

32 Three strengths of our
 easy-to-use-for-anyone platform
 
 ● Apply on the Mercari app in as little as 30 seconds
 ● All prices listed in JPY, with trades starting from 1 JPY
 ● Service offers three types of cryptocurrency
 Bitcoin, ethereum, and XRP
 (added April 2025)
 Bitcoin Trading Now Available on 
 Mercari Marketplace App
 In March 2023, we launched bitcoin trading on Mercari
 
 (Cryptoasset-related services are provided by Mercoin, Inc.)
 

33 　　 New Uses for Sales Balance & Points
 Source: Mercoin survey on cryptoassets (February 2023)
 Reasons for not holding cryptoassets
 Responses from 1,227 people who do not hold cryptoassets
 Note: Respondents were able to select multiple answers 
 
 36.9%
 30.5%
 26.6%
 
 1 2 3 Low stress and easy to start!
 It seems like a way to lose money
 I find it to be intimidating
 I don’t have the money to buy in
 (Cryptoasset-related services are provided by Mercoin, Inc.)
 

34 　　 Accessible Bitcoin—3M Accounts in 21 Months
 21 months after the service launched
 Reached
 3M
 accounts
 Oct. 2023
 May 2024
 Dec. 2024
 2M
 accounts
 1M
 accounts
 3M accounts
 
 Note: Number of cryptoasset accounts as of December 17, 2024
 Service started in Mar. 2023
 (Cryptoasset-related services are provided by Mercoin, Inc.)
 

35 　　 Expanding Crypto’s Reach
 
 Mercoin is chosen by users who have had no prior connections to cryptoassets
 (Cryptoasset-related services are provided by Mercoin, Inc.)
 Cryptoasset Trading Experience
 86%
 of account holders had no prior experience trading cryptoassets
 Broad
 age ranges
 User Demographics
 
 50s or older
 24.4%
 40s
 24.7%
 30s
 24.3%
 18–20s
 26.6%
 Notes: Data on users of Mercari’s bitcoin trading service (as of June 30, 2025).
 The numbers in the graph are rounded to the nearest tenths place, and as such, may not total 100%.
 

36 　　 Cryptoasset Trading on the Mercari App
 → Sales balance/points/
 money added
 Cryptoassets
 (bitcoin, ethereum, and XRP)
 Earn points for holding cryptoassets
 ● Buy and sell at any time
 ● Automatic bitcoin savings feature (can be set to 1, 2, or 4 times per month)
 ● Bitcoin payment feature
 Holding ethereum in your account will earn you points every month
 (Cryptoasset-related services are provided by Mercoin, Inc.)
 

37 　　 Bitcoin Payment on Mercari Choose an item on Mercari and
 go to check out
 Select “Use Bitcoin”
 Choose how much to use
Confirm purchase details
 Purchase the item
 In February 2024, we started offering a service that allows users to use bitcoin to make purchases on Mercari.
 One month after the full release of the service, over 100,000 payments were made using bitcoin.
 (Cryptoasset-related services are provided by Mercoin, Inc.)
 

38 　　 Bitcoin and Ethereum Savings Features
 
 
 *Service not available to users under the age of 18 or over the age of 74.
 Start in as little as 30 seconds!
 Anyone*
 Easy
 Secure
 Create an account in as little as 30 seconds and set up savings right away
 Modify or turn off your plan and return the savings to your Merpay balance at any time
 Choose the savings plan that’s right for you
 In August 2024, we launched a bitcoin savings feature, which allows users to use the Mercari smartphone app to easily set up a bitcoin savings plan that automatically withdraws money from a bank account to purchase bitcoin. In October 2024, we also started to provide an ethereum savings feature.
 (XRP savings not offered)
 (Cryptoasset-related services are provided by Mercoin, Inc.)
 

39 　　 Earn Points Automatically Each Month
 
 2.0%
 
 Notes: Expected annual revenue as of June 30, 2025
 Subject to monthly change at the discretion of Mercari Group
 No fixed annual rate guaranteed
 In the dynamic cryptoasset market,
 we have introduced a method of earning stable point revenue
 
 Any user who holds ethereum
 on the Mercari app
 Expected annual rate
 Who is eligible
 Notes: Mercoin began offering an ethereum staking service on December 18
 The annual rate of points awarded to users will be calculated independently of income obtained via staking
 (Cryptoasset-related services are provided by Mercoin, Inc.)
 

40 　　 Efforts to Ensure a Safe and Secure Product
 We implement measures to prevent fraud in order to ensure a safe and secure user experience.
 Compensation/
 support provided in case of an incident
 Monitoring
 conducted 24/7
 Authentication and identity verification at time of registration and use
 

41 　　 AI/visual check
 Merpay identity verification (eKYC)
 Identity verification
 via ID + selfie
 
 KYC using Individual Number Card (JPKI)
 
 Fraud coverage
 Registering for Mercari
 Connecting to financial institutions
 Anti-fraud countermeasures employed in the process from account creation to bank account connection/service use
 1. Two-factor authentication
 (SMS)
 2. Identity verified against name on bank account
 
 3. Anti-fraud monitoring when charging from bank/using Merpay
 4. Total coverage in the event of an incident
 
 Transferring funds from bank
 to Merpay
 Using Mercari/Merpay
 Ensuring a safe and secure environment has remained a priority for Merpay. We have implemented identity verification and anti-fraud countermeasures to use Merpay and Mercard services, as well as strengthened identity verification measures (eKYC). The number of Merpay and Mercard users who have completed identity verification (eKYC) has increased dramatically, helping Merpay become the first payment service to resume new connections and bank charging with financial institutions that had suspended such connections from November 2020 onwards, such as Japan Post Bank, Gunma Bank, Tochigi Bank, and Nagano Bank.
 Efforts to Ensure a Safe and Secure Product
 

42 　　 In March 2021, we launched an identity verification process that uses Japan’s public Individual Number Card identification system (JPKI). Merpay is the first mobile payment service provider to implement identity verification using JPKI. Due to efforts to strengthen eKYC and promote identity verification, Merpay reached 18.4 million identity-verified accounts as of June 30, 2025.
 Percentage of identity-verified users:
 94%
 18.4 million users
 Efforts to Ensure a Safe and Secure Product Simple KYC using 
 official identification 
 (Individual Number Card)
 A first in the payment industry
 Individual Number Card
 Verification
 

43 　　 Appendix: Growth of Features/Services Since Merpay’s Launch
 Feb–Mar 2019
 iD Payments/QR Code Payments
 Available at iD and Merpay merchants nationwide, including convenience stores, restaurants, drug stores, and fast-food franchises
 Jul 2020
 Merpay Smart Payments
 
 Allows users to defer payment for items based on past usage of Mercari and Merpay
 Online payments
 Enables use of Merpay for not only offline purchases, but online as well
 Sep
 2020
 Sending/receiving money
 Enables users to send their Merpay balance/points to family and friends No-contact service
 Apr–May 2019
 Mar 2021
 Shared d Payment/
 Merpay QR code
 
 Enables use of single QR code for both d Payment and Merpay
 Merpay Smart Payments
 (fixed-amount payment) 
 Allows for fixed-amount payments, whereby users pay in installments from the following month onwards
 Mercari Donation
 Enables donation of Merpay balance, charged from Mercari sales balance or bank account, etc., to local governments and other organizations of the user’s choice
 Merpay Smart Money
 Aug 2021
 A small-sum loan service that Mercari users can apply for within the Mercari app and that utilizes Mercari usage history to determine a user’s interest rate and borrowing limit
 Nov
 2022
 Mercard
 A comprehensive, flexible credit card that allows users to receive instant notifications, check their usage history, and pay their bill right from the Mercari app
 Also offers up to 4% points back from selling, buying, or making purchases at stores
 Virtual card
 Enables users to easily issue a card number which can be used to pay using Merpay balance at many online stores
 Identity verification using Japan’s Individual Number Card (JPKI)
 Support for identity verification using Japan’s public Individual Number Card identification service (JPKI)
 Sep
 2024
 Merpay Smart Payments
 (installment payment)
 
 Started providing installment payments allowing users to pay for items using between 2 and 24 installments
 Two-installment payments without fees also made available
 

44 　　 History: Merpay
 Merpay, Inc. established
 Support for iD contactless payments
 Added support for code payments and released the coupon feature
 Reached 1 million users of Merpay Electronic Money
 Released Merpay Smart Payments (formerly Merpay Deferred Payment)
 Released Online Payments feature
 Reached 2 million users of Merpay Electronic Money　
 Reached 4 million Merpay users
 Reached 5 million Merpay users
 Business alliance with Shinkin Central Bank concluded; reached 6 million Merpay users
 Origami Inc. joined Mercari Group; Mercari, Merpay, and NTT DOCOMO agreed on partnership
 Reached 7 million Merpay users
 Fixed-amount payment and sending/receiving features released
 Began providing a shared QR code for d Payment and Merpay
 Reached 8 million Merpay users
 Nov 2017 
 Feb 2019
 Mar 2019
 Apr 2019
 
 May 2019
 Jun 2019 
 Sep 2019
 Oct 2019
 Jan 2020
 Feb 2020
 Jun 2020
 Jul 2020
 Sep 2020
 Oct 2020
 
 

45 　　 History: Merpay
 First stage of the Growing Wallet: Merpay available for use on Funds
 Became the first service in the industry allowed to resume the bank connections that were suspended due to fraud cases (Resumed connections with Japan Post Bank in January)
 Began providing a “virtual card” that can be used to pay for purchases on online stores with Merpay Smart Payments
 Became the first service in the industry to support KYC using the IC chips in Individual Number Cards
 Reached 10 million Merpay users
 Launched small-sum loan service Merpay Smart Money
 Launched the Mercard credit card and constant point-back rewards system
 Reached 650 thousand Mercards issued
 Reached 1 million Mercards issued
 Reached 1.5 million Mercards issued
 Mercard and the bitcoin trading service selected as winners of the Good Design Award 2023
 Reached 2 million Mercards issued
 Reached 2.5 million Mercards issued
 Reached 3.0 million Mercards issued
 Obtained ISO/IEC 27001:2022 (JIS Q 27001:2023), an internationally recognized ISMS (International Security Information Management System) certification 
 Nov 2020
 Dec 2020
 
 Mar 2021
 
 Apr 2021
 Aug 2021
 Nov 2022
 Apr 2023
 Jun 2023
 Sep 2023
 Oct 2023
 Nov 2023
 Jan 2024
 Mar 2024
 Jun 2024
 　　　
 
 
 
 

46 　　 History: Merpay
 Started offering installment payment to Mercard holders for purchases on Mercari
 Square franchises across Japan started accepting Merpay
 Started offering two-installment payment without fees to Mercard holders for purchases on Mercari
 Reached 4 million Mercards issued
 Released a black version of Mercard
 Launched the Mercard Gold credit card
 Launched installment payments using Mercard at physical and online stores outside of Mercari
 Reached 5 million Mercards issued
 Sep 2024 
 
 Oct 2024
 Nov 2024
 Dec 2024
 Mar 2025
 June 2025