Company Information

Get to know 7Pay

Seven Pay Co., Ltd. was a subsidiary of the Japanese retail giant Seven & i Holdings. It launched the "7Pay" mobile payment service on July 1, 2019, to compete in Japan's burgeoning cashless payment market. The service was integrated into the main 7-Eleven app, allowing users to link credit or debit cards and pay for goods via a QR code at 7-Eleven convenience stores across Japan. However, immediately following its launch, a critical security vulnerability in its design was exploited, allowing attackers to easily gain unauthorized access to user accounts and make fraudulent purchases. The resulting public outcry and loss of consumer trust led the company to suspend the service and ultimately terminate it entirely on September 30, 2019.

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Financial PSP GatewayPRIMARY
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7Pay

Brazil

Founded in

2022 (4 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

IUX

(2,284 reviews)

Mauritius

2015

(10 years)

Security Information :

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ASIC

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.