Rakuten : to Launch New Service: Flea Market App “Rakuma”

November 17, 2014

Tokyo, November 17, 2014 - Rakuten Inc., today announced the launch of "Rakuma," a new flea market app that will enable transactions between individuals via smartphone. The Android version of the app will launch on November 25, with the iOS version being available for download in the near future. From November 17, items for sale can be registered via the Rakuma website in advance of the launch of the service.

 "Rakuma" is an app that enables users to buy and sell items just like in a real flea market environment. Exhibiting items is a simple process and using a smartphone camera can be completed in a little as one minute. The app also allows direct communication between the seller and the buyer, making it easy and worry-free to confirm product details and negotiate a price.

 There are no charges for displaying a product and no charges when a transaction is completed (commission-free) and the proceeds from sale are transferred to the designated bank account as quickly as the same day on which the buyer confirms receipt of the product*1,*2. It is also possible for proceeds from sale to not be transferred, but to be held over for future product purchases.

 Users can select from credit card or convenience store payment to settle product purchases*3. It is also possible to use Rakuten Super Points for payment.

 Settlement through "Rakuma" is simple and hassle-free for both buyers and sellers, utilizing a settlement substitution system*4 that makes the payment to the seller after receipt of the product by the buyer has been confirmed.

 Through "Rakuma" and the launch of this new service, Rakuten aims to attract younger users and further expand the online re-use market, cooperating with and complementing the operations of Rakuten Auction, Inc. Furthermore, with this secure and easy-to-use service, Rakuten will work to further improve its range of services to ensure that Rakuten members can enjoy shopping for a wide range of products.

Name of service: "Rakuma"

Service Website (for advanced registration of items): http://rakuma.rakuten.co.jp/

Service launch (Android version): November 25, 2014
*iOS version will be available in the near future.

Main Features:

・Upload takes as little as one minute
Using a smartphone camera, the upload of items for sale can be completed in a little as one minute.

・Commission-free
There are no charges at all for the seller, either when a product is displayed or when a product transaction is completed*1.

・Proceeds transferred as quickly as the same day
Proceeds from sale are transferred to the designated bank account as quickly as the same day on which the buyer confirms receipt of the product*2.

Notes:

*1: When Rakuten transfers proceeds of the sales which are less than 10,000 yen to the user's designated bank account, a commission of 216 yen (tax incl.) will apply.

*2: Same day transfer is only possible when a Rakuten Bank account is used for the transfer, and the application for the transfer is made between the hours of 00:00 and 08:59.

*3: A settlement fee of 216 yen (tax incl.) will apply to payments made via convenience stores.

*4: Rakuten acts as a settlement intermediary between the buyer and seller, operating a system whereby payment is first received from the buyer, and once the buyer confirms the product has been delivered and conducts approval procedures using the app, payment is transferred to the seller. If the product is not received from the seller or the delivered product differs from the content of the original transaction, the buyer can receive a refund. In addition, the seller is able to confirm via the app that the business operator (Rakuma) has received payment before shipping the product.