What Rakuten Payment does

Rakuten Payment, Inc. is a Japan-based fintech subsidiary of Rakuten Group that operates a multi-product cashless payment and loyalty platform serving Japanese consumers, enterprise retailers, small and medium-sized businesses, and municipal governments. Established in its current corporate form on April 1, 2019, the company traces its operational heritage to bitwallet, Inc. (founded 2001 and renamed Rakuten Edy, Inc. in 2012), which originated the Edy prepaid electronic money service. Headquartered in Minato-ku, Tokyo, the company operates exclusively in the Japanese market and is led by Representative Director, President and CEO Shigenobu Kobayashi, with Hiroshi Mikitani (Rakuten Group founder) serving as Director & Chairman. It is a wholly-owned subsidiary within the Rakuten ecosystem, with no public listing or independent venture capital backing.

The product portfolio centers on the Rakuten Pay mobile app, which integrates QR/barcode payment, NFC contactless (Android), Rakuten Points, Rakuten Cash, Rakuten Edy, and Mobile Suica transit functions into a single application. Complementary offerings include Rakuten Edy (FeliCa-based prepaid e-money at 910,000+ locations), Rakuten Point Card (cross-merchant loyalty), Rakuten Pay Online (e-commerce checkout via Rakuten ID), Rakuten Cash (online e-money usable at Rakuten Securities for mutual fund investments), Rakuten Check (check-in rewards), and the Rakuten Pay Terminal (all-in-one merchant POS device). Merchant-facing data services include Rakuten Analytics for Retailers, an AI-powered retail analytics platform launched in February 2026, and the ID-POS Postal Sampling direct-mail service, also launched February 2026. Distribution integrations span Samsung Wallet, Apple Watch, Mobile Suica, Coca-Cola Coke ON vending machines, AirPAY, and bitFlyer cryptocurrency charging.

Revenue is generated primarily through merchant transaction fees (with promotional zero-fee pricing for small merchants), commissions from the Rakuten Point economy that bridges online and offline commerce, Rakuten Pay Online transaction fees, and an emerging data-monetization line. The business benefits from substantial distribution leverage via the broader Rakuten ecosystem of 70+ services and 100M+ Rakuten IDs, with a reported 76.9% cross-usage rate and approximately 650 billion yen in points issued annually. Strategic relationships include FamilyMart (the first non-Rakuten-group company to join Rakuten's Super Point Up loyalty program, May 2026), Uber (ecosystem partnership, December 2025), Tokyo Metropolitan Government (Tokyo App payment partner, November 2025), and other municipal and enterprise partners. The company also received designation for digital salary payment services in July 2025, opening a new payroll distribution channel.

Name

Rakuten Payment

Legal name

Rakuten Payment, Inc.

Website

https://payment.rakuten.co.jp

Company type

Private

Founded year

2019

Operating status

Operating

Short description

Rakuten Payment operates a Japan-focused mobile payment and loyalty platform within the Rakuten ecosystem, offering QR/barcode/NFC payments via Rakuten Pay, FeliCa e-money (Rakuten Edy), and a unified point system serving 100M+ Rakuten IDs across 1M+ merchant locations and government partners.

Ownership category

akta.pro rank

Product category

Mobile Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Price Comparison, Deals, Cashback & Loyalty Shopping Platforms (BPAMAGAH)

Keywords

• Mobile payments
• QR code payments
• Electronic money
• Loyalty point platform
• Merchant payment terminals

Headquarters

HQ city

Konan

HQ country

Japan

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Merchant Transaction Fees: Processing fees charged to merchants for payment transactions. The company offers reduced/zero fees for small merchants as promotional pricing.
2. Point Economy Ecosystem: Revenue generated through the Rakuten Point system which connects online and offline commerce, driving transaction volume across the Rakuten ecosystem
3. Data-Driven Marketing Services: Marketing solutions for corporate clients using offline purchase data from Rakuten Point Card, including targeted promotional campaigns and ID-POS direct mail sampling services
4. Online Payment Processing: Rakuten Pay Online payment service allowing Rakuten members to pay on non-Rakuten e-commerce sites using their Rakuten ID

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Rakuten Payment develops and operates the Rakuten Pay mobile payment application along with Rakuten Edy electronic money, Rakuten Point Card loyalty, Rakuten Pay Online checkout, Rakuten Pay Terminal merchant devices, and complementary data-driven merchant services. The company processes QR/barcode, NFC contactless, and electronic money transactions across more than 1 million acceptance locations in Japan while unifying the spend under a single Rakuten ID and Rakuten Points loyalty currency. Merchants are on-boarded via direct sales, partner referrals, or self-serve, and consumer adoption is driven by point rewards, cashback campaigns, and ecosystem integration.

Product overview

Rakuten Payment operates a comprehensive B2B2C fintech ecosystem centered on its mobile payment app Rakuten Pay, supplemented by electronic money (Rakuten Edy), loyalty points (Rakuten Point Card), and check-in rewards (Rakuten Check). The platform connects online and offline commerce through QR/barcode payments, NFC contactless technology, and all-in-one merchant terminals (Rakuten Pay Terminal), while offering data-driven marketing tools including Rakuten Analytics for Retailers and ID-POS Postal Sampling. The ONE Payment strategy unifies multiple payment methods and services within a single ecosystem, with annual points issuance of approximately 650 billion yen across over 100 million Rakuten IDs.

Differentiator

Problem solved

Functional benefit

Brands

• Rakuten Pay: Smartphone QR/barcode and NFC payment app enabling payments via credit card, bank account, Rakuten Pay Balance, and Rakuten Points, with up to 1.5% point back.
• Rakuten Point Card
• Rakuten Edy
• Rakuten Check
• Rakuten Cash (Rakuten Pay Balance)
• Rakuten Pay Online
• Rakuten Pay Terminal

Products and services

• Rakuten Pay (mobile payment app) Flagship smartphone payment app enabling QR/barcode, NFC contactless (Android), credit card, bank account, Rakuten Cash, and Rakuten Points payments at partner stores across Japan; offers up to 1.5% Rakuten Points back. Integrated with Rakuten Point Card, Rakuten Edy, and Mobile Suica for transit.
• Rakuten Pay Online Online payment/checkout service allowing Rakuten members to pay on non-Rakuten e-commerce sites using their Rakuten ID and password, with Rakuten Points earning and redemption.
• Rakuten Edy Prepaid IC-based electronic money supporting card, app, and keychain forms, using FeliCa contactless technology at convenience stores, supermarkets, drugstores, and vending machines across Japan with automatic top-up from Rakuten Card.
• Rakuten Point Card Common digital loyalty point card earnable and usable at convenience stores, supermarkets, drugstores, gas stations, restaurants, and apparel retailers across Japan; integrated with the broader Rakuten Points ecosystem.
• Rakuten Pay Balance (Rakuten Cash) Online electronic money service top-upable via the Rakuten Pay app, usable for online and physical payments, person-to-person money transfers, and mutual fund investments through Rakuten Securities.
• Rakuten Check Check-in reward app allowing users to earn Rakuten Points by visiting partner stores and tapping a check-in button via smartphone.
• Rakuten Pay Terminal All-in-one merchant payment terminal combining card reader, tablet, printer, and mobile/Wi-Fi communication, supporting QR code, credit card touch payment, and electronic money acceptance for merchants.
• Rakuten Analytics for Retailers AI-powered retail analytics platform for merchants providing insights into customer behavior and store performance based on offline purchase data collected through the Rakuten Point Card program.
• Rakuten Payment DM ID-POS Postal Sampling Marketing service that uses offline purchase data from Rakuten Point Card to deliver targeted physical product samples via direct mail to specific consumer segments for corporate clients.

Quantifiable outcome

• 3 consecutive years #1 in JCSI customer satisfaction for QR code payment sector (2023-2025)
• +3 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability3 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered core, strategic and innovative.

• FamilyMartcoreGTM or Marketing Partner · 22 May 2026FamilyMart became the first non-Rakuten-group company to join Rakuten's Super Point Up (SPU) loyalty program. This milestone partnership enables FamilyMart customers to earn enhanced Rakuten Points through Rakuten Pay transactions, with special campaigns including free Famichiki fried chicken and coupon raffles.
• Rakuten MobilecoreStrategic or Co-development Partner · 2 March 2026Rakuten Car gasoline program offering up to 11x Rakuten Points for Rakuten Car users at partner gas stations. Enhanced Bonus Interest Rate program offering up to 0.64% per annum for eligible Rakuten Mobile subscribers.
• Keio Store (京王ストア)coreStrategic or Co-development Partner · 13 January 2026Rakuten Point Card acceptance at 66 Keio Store locations including Keio Store, Keio Store Express, and Kitchen Court. Customers can earn both Keio Passport Points and Rakuten Points simultaneously by presenting both cards.
• UbercoreStrategic or Co-development Partner · 9 December 2025Strategic partnership to create new shared value through deeper integration of services between Uber and Rakuten ecosystem.
• Tokyo Metropolitan GovernmentstrategicGTM or Marketing Partner · 14 November 2025Rakuten Pay selected as payment partner for Tokyo Metropolitan Government official app (Tokyo App), enabling citizens to use Rakuten Pay for various municipal services.
• Nishitetsu Store (西鉄ストア)coreStrategic or Co-development Partner · 14 January 2022Rakuten Point Card and Rakuten Edy acceptance at 91 stores including Nishitetsu Store, Legnano, Spina, Ankuru Dream Market, and Ankuru Fujiya. Service launch began fall 2022.
• Seiyu (西友)coreStrategic or Co-development Partner · 10 March 2021All Rakuten payment services (Rakuten Point Card, Rakuten Pay, Rakuten Edy, Rakuten Check) accepted at 332 Seiyu stores nationwide, with integrated Rakuten Seiyu online supermarket and app.
• bitFlyerinnovativeTechnology or Integration · 24 February 2021Integration allowing users to charge Rakuten Pay and Rakuten Point Card accounts with cryptocurrency from bitFlyer, enabling crypto-to-cashless payment conversion.
• Yokohama City GovernmentstrategicGTM or Marketing Partner · 22 October 2020Partnership agreement with Yokohama City to promote cashless payments and local economic revitalization through city-wide campaigns.

Scale indicators8 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• LINE Pay (LY Corporation): Japanese mobile payment service now consolidated within LY Corporation (LINE Yahoo Japan). A direct competitor to Rakuten Pay in QR/barcode payments with comparable consumer and merchant proposition; merged with PayPay in 2024, making the combined entity an even more formidable direct peer.
• au PAY (KDDI): Mobile payment service from KDDI, another major Japanese telecom operator. Directly competes with Rakuten Pay across QR payments, barcode, and point rewards, with deep integration into KDDI's telecom customer base and Ponta loyalty ecosystem.
• d Payment (NTT Docomo): Mobile payment service from NTT Docomo, one of Japan's largest telecom operators. A direct competitor with similar QR payment, point-back, and loyalty features, leveraging Docomo's massive telecom subscriber base as a captive distribution channel.
• Merpay (Mercari): Mobile payment service from Mercari, integrated with Japan's leading C2C marketplace. Directly competes with Rakuten Pay for consumer payment wallet share, differentiated by its marketplace-native use case but offering comparable QR and barcode payment features.
• PayPay Corporation: Japan's dominant QR code payment service, jointly owned by SoftBank and Z Holdings. Directly competes with Rakuten Pay in the Japanese QR payment market, offering a similar merchant and consumer product with comparable cashback mechanics and aggressive merchant subsidies.

Broad incumbents

• Stripe: Global payment processing leader offering merchant acquiring, online checkout, and developer APIs. Analogous to Rakuten Pay Online and broader payment-processing functionality, with a similar transaction-fee revenue model but at vastly greater international scale.
• Square (Block, Inc.): Global mobile payment and merchant services provider offering QR payments, point-of-sale hardware, and merchant analytics. Comparable to Rakuten Pay Terminal and merchant services, though operating at much larger scale and with broader geographic footprint.

Regional players

• Alipay (Ant Group): China's dominant mobile payment platform operated by Ant Group, with presence in Japan serving inbound Chinese tourists and select merchants. Comparable QR payment technology, loyalty mechanics, and ecosystem integration, but primarily serves a different geographic market.
• WeChat Pay (Tencent): Tencent's mobile payment service integrated into WeChat, China's super-app ecosystem. Conceptually parallel to Rakuten Pay's ecosystem-driven model and comparable QR payment technology, but operates primarily in mainland China with limited Japan-specific merchant coverage.

Others

• Ponta (Loyalty Control Company / Mitsubishi Corporation): Japan's largest loyalty point platform, with over 100 million members and broad merchant acceptance. Conceptually parallel to Rakuten Point Card and its data-driven marketing services, but operates as a pure loyalty ecosystem rather than a payment processor.

Market position

Strengths5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles24 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rakuten Payment