Rakuten Card’s Annual Shopping Gross Transaction Value Surpasses 20 Trillion Yen for Most Recent 12-Month Period

Tokyo, September 1, 2023 - Rakuten Card Co., Ltd., a wholly-owned subsidiary of Rakuten Group, Inc., today announced that Rakuten Card’s annual shopping gross transaction value (GTV) surpassed 20 trillion yen for the 12-month period running from August 2022 to July 2023.

Rakuten Card’s growing shopping gross transaction value (GTV).

Cashless payments have been gaining popularity in markets around the world in recent years. The Japanese market reached a cashless payment ratio of 36.0% in 2022, representing a value of 111 trillion yen. Among the cashless payment options available, credit card payments are leading the cashless renaissance in Japan, with the total amount of credit card payments rising to 93.8 trillion yen (up 12.8 trillion yen year-on-year (YoY), a 15.8% increase) last year*.

Changes in the cashless payment amount and cashless payment ratios in Japan (until 2022)*.

Rakuten Card’s shopping GTV has increased due to the steadily growing number of Rakuten Cards issued – including cardholders with two cards – as well as increasing usage of Rakuten Card both in Rakuten Group services, such as Rakuten Ichiba and the cashless payment app Rakuten Pay, and outside the Group. The post-pandemic recovery in travel-related services and restaurant consumption both in and outside the Rakuten Group has also contributed to growth. In addition, the pandemic-fueled shift towards cashless payments driven by the increased demand for contactless transactions has continued, leading Rakuten Card to be widely used for everyday shopping. As a result, Rakuten Card’s annual shopping GTV for the most recent 12-month period from August 2022 to July 2023 surpassed 20 trillion yen, achieving a growth rate of more than 20% compared to the same period one year earlier (August 2021 to July 2022).

As a way of thanking cardholders for their patronage which has directly led to this record growth, Rakuten Card has launched a dedicated page on its official website. The page provides information on how to use the Rakuten Card app and various other Rakuten Group services, as well as customer testimonials and other highlights from Rakuten Cardholders.
Official webpage: https://www.rakuten-card.co.jp/20trillion/ (*Japanese language site)

Since launching in July 2005, Rakuten Card has worked to promote cross-use with various Rakuten Group services and drive the further proliferation of cashless payments both inside and outside the Group. Rakuten Card serves as the heart of the cashless payment services provided by the Rakuten Group, offering a full lineup of payment options that cater to customers' lifestyles, including smartphone payments with Rakuten Pay and e-money with Rakuten Edy. Additionally, the company has strengthened its collaborations with Rakuten Bank, Rakuten Securities, Rakuten Insurance, Rakuten Payment and other Fintech services provided by Rakuten in order to build and support the expansion of the robust Rakuten Ecosystem.

Moving forward, Rakuten Card will continue to enhance its credit card services and features, aiming to make financial services more convenient, user-friendly and readily accessible in order to deliver even greater levels of customer satisfaction.

Notes
*From the Ministry of Economy, Trade, and Industry of Japan’s “2022 Ratio of Cashless Payment Among the Total Amount Paid by Consumers Calculated” report published on April 6, 2023. Source: https://www.meti.go.jp/english/press/2023/0406_002.html