One key to understanding online spending in Japan is the points economy. The Rakuten Group runs an ecosystem spanning its marketplace (Rakuten Ichiba), cards, banking, and telecom that lets members earn and spend a shared points currency, and Rakuten Pay is the channel that extends these points and a Rakuten ID to payments at external merchants. In a Japanese e-commerce market worth roughly 20 trillion yen a year, it directly targets the consumer habit of "choosing a payment method for the points it earns."

Rakuten members are sensitive to point-earning multipliers and are used to completing a purchase with a single Rakuten ID. Even an independent online store outside Rakuten Ichiba can let this member base pay without entering a card number by adding Rakuten Pay, making it a complementary tool for merchants in Korea running their own site for Japanese consumers to lift checkout conversion.

When a consumer selects Rakuten Pay at checkout, they log in with their Rakuten ID and complete the payment using a pre-registered card, Rakuten Cash, or points, with the transaction processed in JPY. Hecto Financial receives this amount locally, converts the currency, and settles with the merchant in Korea in the contracted currency — USD, KRW, or JPY. How cancellations are handled for payments that combine points needs to be confirmed before integration.

Rakuten Pay is a payment method that can be considered for adoption on the basis of a company registered in Korea through Hecto Financial. The business categories that can be handled and the terms may vary based on Rakuten's own merchant policy, so confirm the settlement cycle, fees, and currency options before signing a contract.

• Business registration country

  Confirm contract eligibility for businesses registered in Korea

• Sales channel

  The integration approach differs depending on whether sales are online only or also include offline stores in Japan

• Product categories handled

  Check in advance whether your products fall under categories restricted by the RakutenPay operator's merchant policies

• Compliance with local regulations

  Confirm compliance with Japan's payment and foreign exchange regulations (see official sources below)

Rakuten Pay payments are first received in JPY. After Hecto Financial receives and converts these funds locally, the merchant in Korea is paid in the currency chosen under contract from USD, KRW, or JPY. The settlement cycle and fee rate follow the contract terms, and because refunds are governed by both Rakuten Pay's policy and Hecto Financial's standards, confirm the cancellation window in advance.

• Bank of JapanProvides official information on Japan's payments and payment systems.
• Japan Ministry of Economy, Trade and Industry (METI) cashless policyOfficial data on the Japanese government's payment policy, including the cashless payment ratio. If the content of this page differs from actual regulations, the official source takes precedence.