TOKYO, November 5, 2013 – Rakuten, Inc. today announced that it began accepting new merchant applications for the acceptance of international credit card brands such as JCB, American Express, Diners Club, and Discover using the Rakuten Smartpay service for smartphones.
Merchants that pass Rakuten’s screening process, as well as two more rigorous acquirer (Rakuten Card and JCB) screenings, will be able to accept JCB, American Express, Diners Club, and Discover, in addition to Visa and MasterCard, using the Rakuten Smartpay service. As a result, the Rakuten Smartpay service will be able to accept all six major international credit card brands for payments.
In addition, Rakuten Smartpay merchants will pay the same standard merchant fee for all six major international credit card brands of 3.24%, regardless of their sector or scale. Merchants will also receive next-day payment* for their receivables. Both methods will make it easier than ever for the self-employed and small- and medium-sized enterprises to begin accepting credit card payments for their products and services.
After Rakuten and JCB Co., Ltd. concluded their merchant agreement in September 2013, the number of applications for the Rakuten Smartpay service more than doubled (comparing August 2013 to October 2013). Merchant sectors include restaurants and clothing outlets as well as exhibition spaces and major events, indicating that the service is used in many situations and by a variety of businesses. Going forward, Rakuten is committed to increasing the number of merchant stores.
*Merchants will receive next-day payment for their receivables when designating a Rakuten Bank account. Payment will be made on the next business day for accounts with all other banks.