Tokyo, January 30, 2020 - Rakuten Card Co., Ltd., a wholly owned subsidiary of Rakuten, Inc., today announced that its monthly card gross transaction value for December 2019 reached a record 1 trillion yen.
January 30, 2020
- Rakuten Card Co., Ltd.
Rakuten Card Monthly Gross Transaction Value for December 2019 Exceeds 1 Trillion Yen
- Rakuten Card grows to a record 19 million cardholders
December 2019 marks the first time for Rakuten Card to exceed 1 trillion yen in monthly gross transaction value. For the 2019 fiscal year, the gross transaction value is expected to be approximately 9.5 trillion yen, an increase of approximately 27% year-over-year*1. The number of Rakuten Card cardholders has also accelerated at a record pace, taking only five months to reach an additional 1 million cardholders, bringing the total number of cardholders to more than 19 million as of January 2020.
The “Cashless Vision” announced by the Ministry of Economy, Trade and Industry in 2018 aims to increase the ratio of cashless settlements to 40% by 2025. Following the strong drive towards cashless payments, credit card transaction value in Japan increased 10.6% year-over-year for the period running from January to November 2019*2. Rakuten Card’s gross transaction value has grown over 20% year-over-year for 13 consecutive quarters, including Q4 FY2019. Card transaction value grew steadily, supported not only by the increase in the number of cardholders but also by the strong push for cashless payments.
Rakuten Card will continue to strive to enhance and expand its credit card service and lineup of features, and make financial services more convenient, easy to use, and accessible to customers in order to further improve customer satisfaction.
*1 Further details will be disclosed at Rakuten, Inc.’s FY2019 and Q4 FY2019 earnings results announcement planned for February 13, 2020.
*2 Calculated using statistics from “Ministry of Economy, Trade and Industry Survey of Selected Service Industries 4. Credit Card Service Industry.” Total amount of sales for the credit business from January 2018 - November 2018 and January 2019 - November 2019 used to calculate year-over-year growth rates for transaction value in the credit card industry.