Rakuten Card Co., Ltd. and Mizuho Bank, Ltd. today announced the launch of the Mizuho Rakuten Card, a new co-branded credit card that will start taking applications and issuing new cards on December 3, 2024.
A promotional campaign will launch on the same day to commemorate the release of the Mizuho Rakuten Card.
In a move to transform Japan’s digital payments landscape and forge new business models by combining their respective areas of expertise, six leading companies, including Rakuten Card and Mizuho Bank, formed a business alliance agreement on November 13, 2024. As a key part of this alliance, Rakuten Card and Mizuho Bank have partnered to issue the Mizuho Rakuten Card.
With this new card, customers can designate Mizuho Bank as their withdrawal account. The more customers use the card, the more Rakuten Points - Rakuten’s flagship loyalty program - they earn. The card, which also comes with preferred benefits for banking transactions, is designed to make everyday life more convenient and rewarding for even more customers.
Membership rewards include 1% in Rakuten Points for purchases using the Mizuho Rakuten Card, and 3% for purchases on Rakuten Ichiba, delivering benefits almost identical to the Rakuten Card*3. 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, making both banking transactions and everyday shopping more rewarding for customers.
Furthermore, the companies are considering introducing even more attractive benefits, such as integration with a new point service, in a significant update planned for Mizuho Bank's Mizuho Mileage Club next spring.
With around 24 million individual customer accounts, Mizuho Bank has made expanding its customer base while maintaining its strong business foundation a key strategic focus. The bank is committed to becoming the most convenient and reliable partner for its customers.
Since launching in July 2005, Rakuten Card has achieved continuous growth, with over 31.44 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 this partnership card, Rakuten Card, Mizuho Bank and their respective Groups are set to elevate customer convenience to new heights, working together on a variety of innovative services and initiatives.