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    4755   JP3967200001

RAKUTEN GROUP, INC.

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Rakuten : and JR East Partner to Promote Cashless Payments

06/05/2019 | 02:23am EST
  • Tokyo, June 5, 2019 - Rakuten Payment, Inc. and East Japan Railway Company (JR East) today announced that the two companies will collaborate to promote cashless payments. Through the collaboration, users of the Rakuten Pay smartphone app operated by Rakuten Payment will be able to charge and use the Suica[1] e-money service offered by JR East in the Rakuten Pay app. This will allow customers to use the Rakuten Pay app as a form of transportation e-money at approximately 5,000 train stations and on approximately 50,000 buses, in addition to approximately 600,000 stores around the country.
  1. Overview of the cooperation

Launch date: Spring 2020 (planned)

Details: Users of the Rakuten Pay app will be able to use Suica through the app. In addition, users will be able to charge their Suica in the app by credit card payment through the Rakuten Card registered on the Rakuten Pay app. This will allow users to ride trains, buses and other transportation as well as make payments at stores affiliated with transportation e-money[2] with the Rakuten Pay app.

Compatible devices: Android™ devices that support Osaifu-Keitai®[3]

  1. Aims of the cooperation

By making it possible for users to charge and use Suica in the Rakuten Pay app, JR East aims to improve the convenience of its Suica service.

In addition, Rakuten Pay app users will also be able to earn Rakuten Super Points when using the in-app Suica charge function. Rakuten Super Points are the number 1 loyalty points program in Japan by overall customer satisfaction[4]. Furthermore, users are able to quickly and securely use Suica services on their smartphone, without downloading a new app or registering credit card information.

Going forward, Rakuten Payment and JR East will look into collaboration in other fields to further promote the adoption of cashless payments.

About Rakuten Payment, Inc.
Rakuten Payment, Inc. is a Rakuten Group company that provides services in payments and marketing. Established in April 2019, Rakuten Payment operates services such as Rakuten Pay (for store payments and for app payments), Rakuten Point Card, Rakuten Edy and Rakuten Check. Rakuten Payment provides convenient and safe payment services to customers and provides affiliated businesses with a wide range of payment services tailered to meet their diverse needs and support through marketing programs leveraging data.
https://payment.rakuten.co.jp/

[1] The charge function can be used with Visa, Mastercard and JCB-branded Rakuten Cards.
[2] The Mobile Suica app is required in order to purchase commuter passes and green car tickets.
[3] The service is only compatible with Android™ devices that support Osaifu-Keitai®. Plans to bring the service to iOS devices will be looked into in the future.
*Osaifu-Keitai is a registered trademark of NTT DOCOMO, Inc.
*Android is a trademark of Google LLC.
[4] Source: 'Survey on Points Systems.' Valid responses: 1,000. Online survey conducted by MyVoice Communications, Inc. in October 2018.

Disclaimer

Rakuten Inc. published this content on 05 June 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 05 June 2019 06:22:05 UTC


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Sales 2021 1 663 B 14 649 M 14 649 M
Net income 2021 -180 980 M -1 594 M -1 594 M
Net cash 2021 945 B 8 325 M 8 325 M
P/E ratio 2021 -9,81x
Yield 2021 0,39%
Capitalization 1 868 B 16 435 M 16 452 M
EV / Sales 2021 0,55x
EV / Sales 2022 0,78x
Nbr of Employees 23 841
Free-Float 57,3%
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Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 1 182,00 JPY
Average target price 1 556,86 JPY
Spread / Average Target 31,7%
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Managers and Directors
Hiroshi Mikitani Chairman, President & Chief Executive Officer
Kenji Hirose Chief Financial Officer & Executive Vice President
Yasufumi Hirai Chief Information & Information Security Officer
Makoto Arima Chief Revenue Officer & Senior Director-Technology
Tareq Amin Chief Technology Officer & Executive VP
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