Rakuten and Mizuho Bank have launched a new co-branded credit card seeking to “transform” how digital payments are handled and used in Japan.
The Mizuho Rakuten co-branded card seeks to forge new business models by combining the areas of expertise of Rakuten and Mizuho, working alongside six leading companies.
With the new card, customers can designate Mizuho Bank as their preferred withdrawal account, and as more customers use the card, the more Rakuten Points – Rakuten’s flagship loyalty program – they earn, also coming with preferred benefits for banking transactions.
Membership rewards include 1% in Rakuten Points for purchases using the Mizuho Rakuten Card, and 3% for purchases on Rakuten Ichiba.
Additionally, as an exclusive benefit, the card comes with Mizuho Mileage Club membership and a range of perks, such as free ATM withdrawals and waived money transfer fees when using the Mizuho Rakuten Card.
The companies are considering introducing even more lucrative benefits, such as the integration of a new point service, a significant update planned for Mizuho Bank’s Mizuho Mileage Club next spring.
This all falls under Mizuho Banks’ commitment to providing more incentives to use its digital card offerings as part of its key strategic focus to put customer and business loyalty.
Since launching in July 2005, Rakuten has had continuous growth, with over 31 million cards issued as of the end of September 2024. The company proactively promotes cross-usage with various Rakuten Group services, driving the adoption of cashless payments both within and outside the Group.
With the launch of the partnership card, Rakuten and Mizuho Bank and their respective Groups, are seeking to elevate the customer experience to new heights.
