One-time Password Terms and Conditions
Article 1. Definitions“ Token” means a smartphone application or device provided by PayPay Bank
Corporation (“Bank”) to a holder of a PayPay Bank ordinary deposit account (such holder
is called “Customer”, and such account is called “Bank Account”), which generates
passwords for transactions with the Bank. “One-time Password” means a temporary
random password that is generated and indicated by a Token.
Article 2. Ownership of Tokens; No Assignment or Other Transfer of Tokens
The ownership of the Tokens shall belong to the Bank. The Bank shall provide theCustomer with a Token. The Customer is not allowed to assign, provide as security orotherwise grant any other right in a Token to any third party, lend a Token to any third
party or allow any third party to possess or use a Token.
Article 3. Provision of Token
1. As a rule, the Bank shall assign and provide the Customer with one Token. When theCustomer who meets the requirements specified by the Bank requests to use two or
more Tokens by the method specified by the Bank, or the Bank deems it necessary,
the Bank shall assign and provide the Customer with an additional Token. Themaximum number of additional Tokens allowed per Customer shall be as separately
specified by the Bank.
2. When a Token provided by the Bank pursuant to Article 3.1 has been lost or damaged
and the Customer wishes to receive a replacement Token, the Customer must
request the replacement Token by the method specified by the Bank. The Bank shallaccept such request when the Bank considers that the Customer needs areplacement Token.
3. Notwithstanding Articles 3.1 and 3.2, the Bank shall not provide the Customer with aToken when:(1) any mail sent to the address the Customer provides to the Bank (“Customer’sAddress”) is undeliverable as addressed, or otherwise the Bank considers thatthe Customer’s whereabouts are unknown;(2) the Customer does not use the Customer’s Bank Account for the period specified
by the Bank; or(3) otherwise the Bank considers that it is not appropriate to provide the Customer

with a Token.
4. The Customer agrees to pay the Token fee as separately specified by the Bank, ifany, when the Customer receives a Token from the Bank. Notwithstanding thePayPay Bank Account Terms and Conditions, the Bank reserves the right toautomatically withdraw the Token fee from the Customer’s Bank Account on the day
specified by the Bank without obtaining the Customer’s consent or approval online,by phone or in writing.
Article 4. Enabling One-time Password Authentication
1.

To use the One-time Password for authentication of the Customer by the Bank, theCustomer must use a Token provided by the Bank to enable the One-time Password
authentication by the method specified by the Bank.

2.

When the Bank confirms that the Customer’s information sent to the Bank isconsistent with the Customer’s information retained by the Bank by the method
specified by the Bank at the time when the Customer enables the One-time
Password authentication, the Bank shall deem that the Customer has enabled theOne-time Password authentication and use the One-time Password to authenticate
the Customer for the transactions specified by the Bank which the Customer makesat or after the time specified by the Bank.

Article 5. Using One-time Password
1.

When the Bank confirms that the Customer’s information electronically sent to theBank is consistent with the Customer’s information retained by the Bank by themethod specified by the Bank to authenticate the Customer after the Customer
enables the One-time Password authentication, the Bank shall deem that theCustomer requests to make a transaction related to the authentication. Even if suchtransaction request is not made by the Customer, the Bank shall not be responsible
or liable for any damage caused by the transaction in question.

2.

The Bank reserves the right to require the One-time Password authentication for thetransactions specified by the Bank whenever the Bank deems it appropriate. Whenthe Bank requires the One-time Password authentication, the Customer will not beable to make such transactions if the Customer fails to receive a Token from theBank or fails to enable the One-time Password authentication even after receiving a
Token from the Bank.

3.

When the Bank authenticates the Customer, if the Customer’s informationelectronically sent to the Bank is not consistent with the Customer’s information

retained by the Bank, the Bank shall temporarily disable the One-time Password
authentication for the Customer after the number of consecutive unsuccessfulattempts specified by the Bank.
4.

The Customer shall be entitled to request the Bank to enable the One-time Password
authentication even if it is disabled pursuant to Article 5.3 by following the procedures
specified by the Bank. When the Bank considers that it is appropriate to enable theOne-time Password authentication for the Customer, the Bank shall accept theCustomer’s request and enable the One-time Password authentication.

5.

The Bank reserves the right to immediately suspend or restrict the use of the Onetime Password functions for authentication of the Customer without notifying theCustomer in advance when the Bank has any doubt regarding the security of theOne-time Password due to malfunction of the Tokens or other reasons. Upon
suspension or restriction of the use of the One-time Password functions, the Bank
reserves the right to specify other authentication procedures (such as execution ofa fixed-term BA-PLUS agreement) for any and all transactions which requireauthentication, and the Customer agrees to follow such procedures. The Bank also
reserves the right to change the Customer’s daily funds transfer limit withoutobtaining the Customer’s approval.

Article 6. Notification of Loss or Theft of Token or One-time Password
1.

The Customer shall be responsible for keeping the Tokens and the One-time
Password strictly confidential.

2.

When the Customer loses a Token; a Token or the One-time Password is likely to be
used by others as a result of counterfeit, forgery, theft or loss of the Token or theOne-time Password; or it is discovered that a Token or the One-time Password isused by others, the Customer must immediately notify the Bank by the method
specified by the Bank.

3.

When the Bank receives the notification specified in Article 6.2, the Bank shallpromptly suspend the use of the One-time Password generated by the Token notified
as lost, counterfeited, forged or stolen for authentication of the Customer. The Bank
shall not be responsible or liable for any damage incurred prior to the receipt ofnotification under Article 6.2 by the Bank.

Article 7. Expiration Date of Token
As a rule, a Token shall expire on the date specified by the Bank.

Article 8. Other Applicable Terms and Conditions
Any matter not specified in these Terms and Conditions shall be subject to the PayPay
Bank Account Terms and Conditions.
Article 9. Amendment of Terms and Conditions
1.

The Bank shall amend any provision of these Terms and Conditions or other terms
and conditions in accordance with Article 548-4 of the Civil Code of Japan when theBank deems it reasonably necessary to respond to any change in economic or othercircumstances, or for other reasons.

2.

When the Bank amends any provision of these Terms and Conditions or other terms
and conditions pursuant to Article 9.1, the Bank shall announce the amendment aswell as the details and effective date of the amened provision by publication on theinternet or by other reasonable means.

3.

The amendment under Articles 9.1 and 9.2 shall take effect on the effective datespecified at the time of publication. The Bank shall provide a reasonable period
between the date of publication and the effective date depending on the details ofthe amendment.

[October15, 2024]*In the event of any discrepancy or inconsistency between the English and Japaneseversions of these Terms and Conditions, the Japanese version will prevail.