REUTERS/Sam NusseyTOKYO, Aug 10 (Reuters) - Japan's Rakuten Group (4755.T) will fold its payments and points businesses into its credit card unit, it said on Thursday, a move that could set the struggling e-commerce company up to eventually list the card business.
It has turned to listing some of its units - including its popular internet banking business, Rakuten Bank (5838.T) - to generate cash.
The company said on Thursday it plans to consolidate its payments and points businesses and fold them into Rakuten Card, its credit card and loans unit.
Rakuten Card will become the "driving force" behind its integrated payments business and may form strategic partnerships with other companies as well as "raising its own capital as necessary", Rakuten said in a statement.
Users accumulate points by using Rakuten credit cards, shopping and insurance services.
Persons:
Sam Nussey TOKYO, Rakuten, Tareq Amin, Anton Bridge, Jamie Freed, David Dolan, Gerry Doyle
Organizations:
REUTERS, Rakuten Bank, Rakuten, Public, NHK, Refinitiv, Thomson
Locations:
Rakuten, Tokyo, Japan