Pay with Zengin-Net Using Peanut — Coming Soon
Peanut is adding Zengin-Net support. Soon you'll send yen to any Japanese bank account from your digital dollar balance — instantly, 24/7.
Peanut is adding Zengin-Net support. Soon you'll be able to send money to any Japanese bank account directly from your Peanut balance — converting digital dollars to yen and delivering them in real time, 24/7. Zengin-Net is Japan's interbank payment network, connecting over 1,000 financial institutions for real-time transfers. It is deeply embedded in Japan's financial infrastructure and has operated in some form since 1973, with 24/7 real-time processing available since 2018. Once the integration goes live, Peanut will give you access to Japan's banking system without needing a Japanese bank account or My Number.
Japan sees over 30 million international visitors annually. Despite being a tech-advanced country, Japan remains heavily cash-dependent — many small restaurants, temples, and local shops are cash-only. But bank transfers via Zengin-Net are essential for rent payments, business transactions, and larger purchases. Peanut will make it easy to move money into Japanese bank accounts without the local documentation requirements.
What Is Zengin-Net?
Zengin-Net is Japan's legacy interbank payment network, operated by the Japanese Bankers Association (JBA). It has been in operation since 1973, making it one of the oldest real-time payment systems in the world. In 2018, the system was upgraded to the "More Time System," enabling 24/7 real-time processing — bringing it up to par with newer instant payment networks globally.
Zengin-Net connects over 1,000 financial institutions across Japan, including the three megabanks (MUFG, SMBC, Mizuho), regional banks, shinkin banks (credit unions), online banks (Rakuten Bank, SBI Sumishin, PayPay Bank), and Japan Post Bank. Transfers require the recipient's full bank details — bank name, branch, account type, and account number. Unlike phone-number-based systems in other countries, Zengin-Net uses traditional banking identifiers.
Zengin-Net is infrastructure rather than a consumer-facing product. Japanese consumers interact with it through their bank's transfer feature — they may not know the name "Zengin-Net," but they use it every time they send a domestic bank transfer.
Where It Works
Zengin-Net covers virtually all banks in Japan:
- Megabanks — MUFG, SMBC, Mizuho
- Regional banks — hundreds of local and regional institutions
- Shinkin banks — credit unions serving local communities
- Online banks — Rakuten Bank, SBI Sumishin, PayPay Bank
- Japan Post Bank — the country's largest deposit-taking institution by number of accounts
Any bank account in Japan that participates in the Zengin-Net network — which is nearly all of them — can receive instant transfers. The system works for personal accounts, business accounts, and institutional payments.
Japan also has a fragmented QR payment landscape with multiple competing systems — PayPay, LINE Pay, Rakuten Pay, d Barai, and au PAY — but no single dominant player or interoperability standard. Zengin-Net, by contrast, is universal across the banking system. For sending money to a Japanese bank account, it is the most reliable and comprehensive channel available.
How It Will Work
- 1
Open Peanut and select Send
You'll open the Peanut app and choose to send money via Zengin-Net to a Japanese bank account.
- 2
Enter the recipient's bank details
Provide the recipient's bank name, branch, account type, and account number. Zengin-Net requires these standard Japanese banking identifiers.
- 3
Review the transfer
You'll see the JPY amount, the digital dollar equivalent, and the exchange rate. The rate will lock when you confirm.
- 4
Confirm and send
Tap to confirm. The recipient will receive yen in their Japanese bank account in real time — 24/7, including weekends and holidays.
The exact payment flow will be confirmed closer to launch. The steps above reflect the general Zengin-Net transfer process combined with Peanut's existing payment model.
What You'll Need
When Zengin-Net support goes live, you'll need:
- A Peanut account with identity verification. Verify with your passport or national ID card from any country — under 2 minutes for most users. Your documents are handled securely and Peanut never sees or stores them.
- A funded digital dollar balance. Deposit from any exchange or wallet, or via bank transfer. All deposits are free.
- The recipient's Japanese bank details. Bank, branch, account type, and account number.
- No Japanese bank account or My Number. You won't need a My Number (Japan's national ID system), a Japanese residence card, or a local bank account to send money into Japan through Peanut.
Specific requirements and transaction limits will be confirmed at launch.
Fees & Exchange Rate
Peanut charges no fees on payments. When Zengin-Net support goes live, you'll convert digital dollars to yen at a competitive market exchange rate with no transaction fee and no hidden charges.
Traditional Zengin-Net transfers between Japanese banks carry fees of JPY 100-800 per transaction, depending on the bank and amount. Peanut's model eliminates these fees for the sender. The rate locks at the moment you confirm — no slippage, no post-transaction adjustments.
Detailed rate comparisons and savings estimates for the Japan corridor will be published closer to launch.
