Japan’s favorite credit card turns 20

When Rakuten Card celebrated its 20th anniversary in July of 2025, it did so as a category leader in Japan, with over 30 million cards issued and a reputation for innovation. But back in 2005, this outcome was far from guaranteed. Rakuten Card was established after Rakuten acquired Kyushu-based finance company Kokunai Shinpan. The two organizations couldn’t have been more different; Kokunai Shinpan’s business followed a traditional consumer lending model, while Rakuten was …