Payment Services Act

The Prime Minister may, pursuant to the provisions of Cabinet Order, certify a general incorporated association established by an issuer of prepaid payment instruments, a funds transfer service provider, or an electronic payment instruments service provider or a cryptoasset exchange service provider that is found to satisfy the following requirements for a person who engages in the business prescribed in the following Article (hereinafter referred to as "certified businesses" in this Chapter) upon that person's application:

the general incorporated association aims to ensure the operation of the business of issuing prepaid payment instruments in a proper manner (meaning prepaid payment instruments specified in Article 3, paragraph (1); the same applies hereinafter in this Chapter), the funds transfer services, or the electronic payment instruments services or the cryptoasset exchange services as well as contributing to the sound development of these businesses and protection of the interests of the users (including member shops specified in Article 10, paragraph (1), item (iv); hereinafter the same applies in this Chapter);

the general incorporated association's articles of incorporation include a provision to the effect that its member (hereinafter referred to as "member" in this Chapter) are issuers of prepaid payment instruments, funds transfer service providers, or electronic payment instruments service providers or cryptoasset exchange service providers;

the business of providing guidance, recommendations and other services to members and electronic payment instruments and cryptoasset intermediary service providers in order to ensure compliance with the provisions of this Act and other laws and regulations and the rules referred to in item (iii), when members engage in the business of issuing prepaid payment instruments, funds transfer services, or electronic payment instruments services or cryptoasset exchange services, or when electronic payment instruments and cryptoasset intermediary service providers (limited to those whose principal electronic payment instruments service provider, etc. is a member; the same applies hereinafter in this Chapter except in Article 92 and Article 97) engage in electronic payment instruments and cryptoasset intermediary services;

the business of providing guidance, recommendation, etc. to the members in relation to their business of issuing prepaid payment instruments, funds transfer services, or electronic payment instruments services or cryptoasset exchange services, or to electronic payment instruments and cryptoasset intermediary service providers in relation to their electronic payment instruments and cryptoasset intermediary services, that is necessary for ensuring the appropriateness of the terms and conditions of contracts or otherwise protecting the interests of users of the business of issuing prepaid payment instruments, the funds transfer services, the electronic payment instruments services, the cryptoasset exchange services or the electronic payment instruments and cryptoasset intermediary services;

establishment of the rules that are necessary for the appropriate management of the business of issuing prepaid payment instruments, the funds transfer services, or the electronic payment instruments services or the cryptoasset exchange services carried out by the members, or the electronic payment instruments and cryptoasset intermediary services carried out by electronic payment instruments and cryptoasset intermediary service providers, and information used in these businesses;

investigation of the status of compliance by members and electronic payment instruments and cryptoasset intermediary service providers with this Act or an order under this Act or a disposition under this Act or the order, or the rules prescribed in the preceding item;

collection, organization, and provision of information necessary for the protection of the interests of users of the business of issuing prepaid payment instruments, the funds transfer services, the electronic payment instruments services, the cryptoasset exchange services or the electronic payment instruments and cryptoasset intermediary services;

handling of complaints from users related to the business of issuing prepaid payment instruments, the funds transfer services, or the electronic payment instruments services or the cryptoasset exchange services carried out by members, or the electronic payment instruments and cryptoasset intermediary services carried out by electronic payment instruments and cryptoasset intermediary service providers;

publicity to the users of prepaid payment instruments, the funds transfer services, the electronic payment instruments services, the cryptoasset exchange services or the electronic payment instruments and cryptoasset intermediary services and other businesses necessary for the achievement of the purposes of the certified association for payment service providers; and

beyond what is set forth in the preceding items, businesses that contribute to the sound development of the business of issuing prepaid payment instruments, the funds transfer services, the electronic payment instruments services, the cryptoasset exchange services or the electronic payment instruments and cryptoasset intermediary services and the protection of the users of these businesses.

A certified association for payment service providers must have the ability to provide the users of prepaid payment instruments, the funds transfer services, or the electronic payment instruments services or the cryptoasset exchange services with some of the information that help protect the users provided by the Prime Minister pursuant to the provisions of Article 97.

When a user of prepaid payment instruments, funds transfer services, electronic payment instruments services, cryptoasset exchange services or electronic payment instruments and cryptoasset intermediary services files an application for resolution of a complaint concerning the business of issuing prepaid payment instruments, funds transfer services, or electronic payment instruments services or cryptoasset exchange services carried out by a member, or the electronic payment instruments and cryptoasset intermediary services carried out by an electronic payment instruments and cryptoasset intermediary service provider, a certified association for payment service providers must respond to requests for consultation, provide necessary advice to the applicant, investigate the circumstances pertaining to the complaint, and request the member or the electronic payment instruments and cryptoasset intermediary service provider to expedite the process by informing the details of the complaint.

When a certified association for payment service providers finds it necessary for resolving a complaint pertaining to an application referred to in the preceding paragraph, it may request the relevant member or the relevant electronic payment instruments and cryptoasset intermediary service provider to provide a written or oral explanation or submit materials.

When a certified association for payment service providers makes a request to a member or an electronic payment instruments and cryptoasset intermediary service provider pursuant to the provisions of the preceding paragraph, the member or the electronic payment instruments and cryptoasset intermediary service provider must not refuse this without reasonable grounds.

A certified association for payment service providers must make applications referred to in paragraph (1), circumstances pertaining to the complaints, and the outcome of any resolution known to the members or electronic payment instruments and cryptoasset intermediary service providers.

When a member obtains information about conduct in which an issuer of prepaid payment instruments, funds transfer service provider, electronic payment instruments service provider, cryptoasset exchange service provider or electronic payment instruments and cryptoasset intermediary service provider engages that weakens the protection of users and other information necessary for the protection of the interests of users as specified by Cabinet Office Order, it must report this to the certified association for payment service providers of which membership they hold.

The Prime Minister may, in response to a request from a certified association for payment service providers and to the extent necessary for ensuring the operations of certified businesses in a proper and steady manner by the certified association for payment service providers, provide the certified association for payment service providers with information pertaining to an issuer of prepaid payment instruments, funds transfer service providers, electronic payment instruments service providers, cryptoasset exchange service providers or electronic payment instruments and cryptoasset intermediary service providers that contributes to the certified businesses as specified by Cabinet Office Order.