Latest News by Industry
LONDON--(BUSINESS WIRE)--Dec 15, 2022--
Rakuten France has announced the launch of a brand-new integrated payment solution, Club R Pay, becoming the first e-commerce player to offer such a system in marketplaces. A universal integrated payment solution, Club R Pay facilitates purchases for the 12 million members of the Club R loyalty program on over 2,000 sites while they enjoy their Rakuten rewards.
This new initiative allows Rakuten to streamline the purchasing process and support its partners in their digitalisation and development.
Simplifying and securing purchases on over 2,000 sites
As people spend an increasing amount online, security and ease of use are essential in the buying process. According to FEVAD, Ecommerce Europe’s French national association, the French spent 129 billion euros on internet purchases in 2021 and online shopping now represents 14.1% of retail trade. It is in this context that Rakuten is launching Club R Pay, a new payment solution within its partner ecosystem.
With Club R Pay, Rakuten offers its members a simplified and seamless payment process within a large ecosystem of more than 2,000 partners (Nike, Lego, Marionnaud, Hotels.com, etc.).
“At Rakuten France, tomorrow’s e-commerce is a shopping platform that provides an optimised, simplified, secure customer journey that builds loyalty by rewarding purchases within an ecosystem of partners in complete freedom. Tomorrow’s business meets real, concrete needs. It is a business that allows you to have fun while controlling your budget,” says Fabien Versavau, CEO of Rakuten France.
Thanks to strategic partnerships with Mastercard, the global payments network operating across 210 countries and territories, and Marqeta, the global modern card issuing platform who will power single-use virtual cards, Club R Pay provides an additional security guarantee and reduces payment risks.
“Our work with Rakuten in France represents an exciting evolution for Marqeta in Europe. By tapping into the power of modern card issuing, we are helping one of the world’s most innovative e-commerce platforms build loyalty and engagement with their marketplace users,” said Jeff Parker, SVP and Managing Director, International at Marqeta. “Club R Pay allows members to shop and make a purchase on any of the 2,000 partner sites using their Club R Pay membership card. The membership card allows simple payment at checkout without entering their card details as it is part of the ecosystem, and the card collects Rakuten reward points that can be redeemed in cash or spent on Rakuten site. Our partnership with Rakuten will not only result in less cart abandonment, it also will increase revenue as shoppers are more likely to shop with partner brands as they can collect and pool the rewards and receive real discounts.”
Supporting people’s purchasing power
As 2022 draws to a close, purchasing power remains one of the main concerns for French citizens. Launched four years ago, Rakuten's Club R loyalty program is now the most generous online shopping platform in France. Its 12 million members can recover between 5% and 35% of their purchases from the marketplace or one of Rakuten France's 2,000 partners.
Club R Pay simplifies the process for Club R members who automatically recover Rakuten Points from their purchases with partner brands. With the launch of Club R Pay they will enjoy an additional 5% discount on their purchases.
Offering brands traffic acquisition at a lower cost
Club R gives partner brands the right resources to increase their digital revenue on their own site, with less shopping cart abandonment, and traffic acquisition at a competitive price. A true marketing acquisition partner, Club R helps brands reach its 12 million loyal and committed buyers in France, providing an important channel for generating growth.
Club R Pay has also been designed to help partners optimise their marketing expenses. By offering a performance-based pricing model, partners only pay when the user makes a purchase. This plug and play payment solution does not require complex development on the partners' side. Universal and ubiquitous, it can be easily integrated into the purchasing journey.
The solution is part of a strategy centred on the purchasing journey to create value for both buyers and brands. Aware of how society is changing and driven by the digitalisation of buying and selling processes, Rakuten France is once again affirming its mission to put its innovation expertise at the service of its millions of consumers and valued retail partners. View a product demonstration video here.
About Rakuten
World leader in online services, in 1997 in Japan Rakuten (JPX: RAK) created the first marketplace for professionals and individuals. With a turnover of 12 billion euros in 2021, Rakuten offers an ecosystem of 70 digital services in areas such as e-commerce, telecommunications, Fintech, and AI.
A key player in French online shopping and a pioneer in the circular economy, Rakuten France is a generalist platform offering new, used and refurbished products sold by professionals and individuals. Driven by an optimistic vision of retail and with the most generous loyalty program in French e-commerce, Club R, Rakuten boosts the purchasing power of more than 12 million members thanks to a unique cash-back model for online purchases.
Through its many online services, Rakuten France also supports more than 10,000 professional sellers and partners in their digitalization. One of these services is the Rakuten Fulfilment Network launched in 2022 which gives partners access to a global network of experts providing the simplest, most efficient and economical response to their logistics requirements.
For more information: global.fr.shopping.rakuten.com/news
About Marqeta (NASDAQ: MQ)
Marqeta’s modern card issuing platform empowers its customers to create customised and innovative payment cards. Marqeta’s modern architecture gives its customers the ability to build more configurable and flexible payment experiences, accelerating time-to-market and democratising access to card issuing technology. Marqeta's open APIs provide instant access to highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their own card programs, issue cards and authorise and settle payment transactions. Marqeta is headquartered in Oakland, California and is certified to operate in 40 countries globally. For more information, visit www.marqeta.com, Twitter and LinkedIn.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta’s business; Marqeta’s products and services; and statements made by Marqeta’s senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: any factors creating issues with changes in domestic business, market, financial, political and legal conditions; the effect of and uncertainties related to the global COVID-19 pandemic on U.S. and global economies and demand for Marqeta’s services and products; the uncertainties and direct and indirect effects of the significant military action against Ukraine launched by Russia, including threats of attacks against U.S. financial institutions as retaliation against financial institutions for sanctions imposed against Russia; the risk that Marqeta is unable to further attract and grow its customer base; the risk that consumers will not perceive the benefits of Marqeta’s products and services, including digital payment and banking products and services; the risk that Marqeta's products and services do not operate as intended, including digital payment and banking products and services; the risk that Marqeta’s products and solutions will not achieve the expected market acceptance, including digital payment and banking products and services; and the risk that competition could reduce expected demand for Marqeta’s products and services, including digital payment and banking products and services. Detailed information about these risks and other factors that could potentially affect Marqeta’s business, financial condition and results of operations are included in the “Risk Factors” disclosed in Marqeta's Annual Report on Form 10-K for the year ended December 31, 2021, as such risk factors may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law .
View source version on businesswire.com:https://www.businesswire.com/news/home/20221215005172/en/
CONTACT: Media:
James Robinson
530-913-0844
jrobinson@marqeta.com
KEYWORD: EUROPE UNITED KINGDOM FRANCE
INDUSTRY KEYWORD: BANKING SOFTWARE ACCOUNTING PROFESSIONAL SERVICES INTERNET BUSINESS FINTECH DATA MANAGEMENT PAYMENTS ELECTRONIC COMMERCE TECHNOLOGY DIGITAL CASH MANAGEMENT/DIGITAL ASSETS FINANCE
SOURCE: Marqeta
Copyright Business Wire 2022.
PUB: 12/15/2022 04:00 AM/DISC: 12/15/2022 04:00 AM
http://www.businesswire.com/news/home/20221215005172/en