Rakuten Card riding the big wave of cashless, but others not
Recap of Relation between Cashless and FinTech Businesses
The cashless trend is an opportunity for the FinTech business, but not all payment providers enjoy this trend
Currently, credit cards are at the center of cashless, and Rakuten Card continues to show high growth potential, and momentum is accelerating due to the penetration of cashless
In particular, there are many payment companies that are not sustainable in terms of profits, but Rakuten Fin Techbusiness is a sustainable model which collects commissions in the payment business
Although profitability in the payment business is low, Rakuten Card becomes a powerful hub, accumulating revolving credit and cashing balance in the card, and sending customers to profitable businesses such as banks, securities and insurance
RakutenCard will play a central role in connecting the various functions (Dots) of the Fin Tech business, and connecting them also to e-Commerce business, mobile business, and other group businesses
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