Rakuten expands in-store payment system
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Japanese e-commerce giant Rakuten is expanding its Rakuten Pay in-store payment system to support 14 major digital money brands and Android Pay.
Rakuten Pay provides affiliated stores with a single payments service that supports a variety of payment methods, including credit cards, electronic money, and a smartphone app.
It now accepts payments made through Rakuten Edy, the digital payment service provided by Rakuten Group, nine electronic money brands affiliated to transport organizations, including Suica, PASMO, and nanaco which can be used at Seven & i Holdings retailers across Japan; WAON, the electronic money brand provided by the AEON Group (planned service launch in 2018), as well as QUICPay+TM and iD*1.
As the system supports Rakuten Edy, it is also compatible with Android Pay.
In the future, Rakuten said it plans to make the service compatible with NFV payment services, such as Visa payWave, Mastercard Contactless, and J/Speedy, making it possible for affiliated stores to process payments made by foreign tourists visiting Japan as well.
Moreover, the Rakuten Card & NFC Reader Elan will become available for purchase from March 6, 2017. This device is equipped with functions that enable payment through both credit cards and electronic money.
For participating stores that already carry the older device and stores that wish to accept only major electronic money brands, the Rakuten NFC Reader Piu, an electronic money reader that is equipped with NFC functions, is scheduled to go on sale in the summer of 2017.
Rakuten launched the Rakuten Pay in-store payment system, originally a settlement service for credit cards, in December 2012 to the Rakuten Ecosystem to brick-and-mortar stores. In October 2016, Rakuten began providing a smartphone app service through Rakuten Pay which utilizes the Rakuten Member ID.
Questions & Answers
Q.What new payment methods will the Rakuten Pay in-store system now support?
What new payment methods will the Rakuten Pay in-store system now support?
The system now supports 14 major digital money brands, including Rakuten Edy, Suica, PASMO, nanaco, and WAON. It also accepts payments made via Android Pay, QUICPay+TM, and iD*1.
Q.When will the new payment readers for Rakuten Pay become available for purchase?
When will the new payment readers for Rakuten Pay become available for purchase?
The Rakuten Card & NFC Reader Elan, which handles credit cards and electronic money, will be available from March 6, 2017. The Rakuten NFC Reader Piu, for electronic money, is scheduled for summer 2017.
Q.How will this expansion benefit foreign tourists visiting Japan?
How will this expansion benefit foreign tourists visiting Japan?
Rakuten plans to make the service compatible with NFC payment services like Visa payWave, Mastercard Contactless, and J/Speedy. This will allow affiliated stores to process payments from international visitors.
Q.When was the Rakuten Pay in-store payment system originally launched and what was its initial function?
When was the Rakuten Pay in-store payment system originally launched and what was its initial function?
The Rakuten Pay in-store payment system was launched in December 2012. It initially functioned as a settlement service specifically for credit cards for brick-and-mortar stores.
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