Future of Rakuten Payment Products - Rakuten Payment, Inc.

The Rakuten Group has over 70 services. At the core are diverse cashless payment services provided by Rakuten Payment, such as “Rakuten Pay,” “Rakuten Edy,” and “Rakuten Cash.”
Rakuten Payment’s “ONE Payment” initiative aims to evolve services to be more accessible to users and partner stores. Among them, “ONE App” integrates various cashless payment services into a single app. We delve into the new product development Rakuten Payment is pursuing.

Our Mission & Surrounding Challenges

Realizing unprecedented customer experiences through an app that integrates Rakuten’s services.

Rakuten Payment, which has led the cashless transformation, established the “Product Headquarters” in 2023. Its members work not only to improve convenience for users and partner stores but also to create new value in customer experience and present the future of cashless payments. One key initiative is integrating services into the core Rakuten Payment service, the “Rakuten Pay App.” How to integrate diverse cashless services and connect them to new customer experiences is the mission to pioneer the future of cashless payments.

Members

Product Manager

Akira
Product Manager

Ryu
Product Manager

Kackey
Product Manager

Hinano
Product Manager

Chihiro
Product Manager

Miho

Clarifying the Vision Further by Consolidating Product Management Functions.

In 2023, Rakuten Payment reorganized its structure, which had been divided by services such as “Rakuten Pay,” “Rakuten Edy,” and “Rakuten Cash.” The highlight was the establishment of the “Product Headquarters,” which consolidated product management functions across these services.

The members gathered in the Product Headquarters have worked on various services.
For example, leader Ryuichi is in charge of “Rakuten Cash,” an electronic money service that can link with Rakuten’s diverse services. Hinano has been involved in medium- to long-term planning of app coupons centered on the “Rakuten Point Card” app. Kazuki has contributed as a member of the bill payment project in the “Rakuten Pay App,” and Chihiro has been responsible for UI/UX development of the “Rakuten Edy” app. Miho, a project member of the new payment terminal “Rakuten Pay Terminal” for merchants, is also part of the team. Akira is the manager who leads these members.

Akira“While improving business revenue is important, the main purpose of our Product Headquarters is to create more attractive products through repeated updates across various projects. Our main work is to focus on products, think broadly and deeply, and realize their success.”

Enriching Lives with One App. Delivering New Value to Society.

As part of the Product Headquarters’ efforts and the “ONE Payment” initiative, the all-in-one payment terminal “Rakuten Pay Terminal” for partner stores was launched in 2023. In addition to payment and communication functions, it includes apps supporting store operations such as Rakuten Points and receipt apps. This single device supports store management and has been introduced in tens of thousands of stores nationwide.

One pillar of the “ONE Payment” strategy is to deepen the customer experience where users can use various services across the group with a single ID and earn/use Rakuten Points, a strength of the Rakuten Group.

The core is the “ONE APP.” It integrates cashless payment services like “Rakuten Pay,” “Rakuten Edy,” and “Rakuten Cash,” as well as point services like “Rakuten Points” and “Rakuten Check” into the “Rakuten Pay App.” By consolidating into one app, users can complete their use of Rakuten services on a single device such as a smartphone.

The “ONE App” concept also includes linking with various Rakuten Group services beyond Rakuten Payment.

Building the “ONE App” enhances user convenience and creates new customer experiences. This conviction motivates all members in their daily work.

Chihiro“By deepening integration with ‘Rakuten Points,’ we closely fuse online and offline, strengthening connections between users and partner stores. Because product managers responsible for each service can collaborate, we can refine the value of the ‘Rakuten Pay App’ and effectively advance the ‘ONE App.’”
Ryu“‘Rakuten Cash’ has grown rapidly in recent years and is now one of our main assets. Our strength in the Product Headquarters is being able to drive product development focused on both user value creation and maximizing business revenue. We are firmly committed to the growth of businesses and services.”

How Do We Achieve Functional Integration?
The Key to Problem Solving Lies in a New Training System.

Under the concept of the “ONE App,” various payment service functions are integrated into the “Rakuten Pay App” to create innovation.
During this effort, challenges emerged.
Because different business units have been responsible for product development, there were differences in concepts, strengths, and growth directions for each service, making functional and strategic discussions difficult.

Akira, who oversees the project, says, “The importance of specialists whose job is to think about and grow products is increasing year by year.” How to deepen the expertise of product managers, who are these specialists, is also an essential factor for innovation.
One solution introduced to address this was a product manager training program. The program’s three pillars are skill checks, online training to learn knowledge and skills, and product ownership.

Being able to comprehensively view corporate strategies related to the “ONE App” and service-specific strategies is also a strength of Rakuten Payment’s product managers. Leveraging this strength, they are making steady progress toward realizing the “ONE App” through trial and error.

Miho“Because our services are diverse, there were many functions we wanted to support, requiring prioritization decisions. Also, for the ‘Rakuten Pay Terminal’ I am in charge of, there was the challenge of how to consolidate the multiple needs of partner companies and where to place Rakuten Payment’s core focus.”
Hinano“A challenge when integrating the ‘Rakuten Point Card’ into the ‘ONE App’ was how to present useful information to users. I utilized knowledge from the training program for prioritization decisions. Furthermore, specialized UI/UX knowledge helped deepen understanding of system development, enabling more collaborative product development.”
Kackey“New technologies are indispensable for solving challenges like AI and anti-money laundering. Having opportunities to learn cutting-edge technology is a great advantage. I am confident this leads to creating new services and functions that surpass others. We are challenging product development in an environment where the whole team improves skills and envisions the future.”

Creating New Trends in Fintech,
Realizing the Future of Cashless Services.

Within an environment where products can be continuously refined, various initiatives to enhance the value of individual services are also underway. Services continue to grow. Especially, the strategy of integrating services into one app is expected to create a major trend in the fintech field.

For example, “Rakuten Cash.” bridges Rakuten’s diverse services through the “Rakuten Pay App.” Our service proximity is widened, and value fluidity is enabled.
In the “Rakuten Point Card,” initiatives that fuse online and offline have been strengthened, promoting usage in various places and further enhancing user convenience.
Furthermore, the app deployment centered on cashless payment services is highly anticipated to create synergy with service assets held by the Rakuten Group.

The future Rakuten Payment aims to realize is not only the promotion of cashless payments but also enriching the lives of over 100 million Rakuten users and empowering society.
The efforts toward the “ONE App” have just begun, and great potential is spreading for innovative product development and value creation.

Akira“What we want to achieve is a service that benefits users, partner companies, and Rakuten Payment — a win-win-win. We want to promote the ‘ONE App’ while collaborating with the abundant services of the Rakuten Group.”

Future Vision

Through cashless payment services, Rakuten Payment has created “new value of money.” The Product Headquarters aims to continuously provide better value to users and create products that maximize business revenue. Envisioning the future with the “ONE App” and realizing it is truly a unique environment that only Rakuten Payment can offer. The challenges of the product managers will continue from here on.