East Japan Railway Co. has announced the upcoming launch of JRE Bank in collaboration with Rakuten Bank Ltd., scheduled for May 9, as a move to engage customers with perks such as reward points and discount coupons. The company's president, Yoichi Kise, envisions JRE Bank as a pivotal tool to deepen customer interactions and foster a lifestyle centered around the JRE Point loyalty program, which is seen as crucial for customer engagement.
With projections indicating that railway ridership may not fully recover to pre-pandemic levels, the introduction of the banking service is part of JR East's strategy to diversify its operations by capitalizing on the JRE Points that can be redeemed at affiliated stores online and in physical locations. By leveraging customer data from JRE Bank, JR East aims to further expand its business reach and strengthen its market position through personalized services and targeted offerings based on customer behavior and preferences.
Customers interested in opening accounts with JRE Bank can do so conveniently using a smartphone app or a website, entitling them to benefits like receiving up to 10 coupons annually for a substantial discount of 40% on JR East tickets, including those for limited express trains, based on their utilization of banking services. Furthermore, account holders can earn additional JRE Points by having their salaries deposited at the bank or by making fund transfers to other accounts, with one JRE Point equivalent to 1 yen, and by utilizing a dedicated debit card for transactions over 500 yen, earning one JRE Point per transaction. JRE Points earned through banking activities can be stored on JR East's Suica transportation IC card, facilitating seamless payments for various services.