QR Payment’s Phase 2 of Bold 50% Cashback Campaigns by Banks to Regain Momentum

The Resurgence of the Market Share Expansion Race Key Factors to Watch: Point Redemption Rates & Redemption Limits

With PayPay dominating the market share in QR code payments, bank-affiliated QR payment services like Air Wallet and J-Coin Pay are gaining attention through bold campaigns. Furthermore, QR payment services following PayPay, such as Rakuten Pay, d Payment, and au PAY, are using their parent companies and networks to highlight their features and target customer retention. Dr. Heidi, who shares point activity information on social media, provides insight into the latest trends of major payment services.

Bank-affiliated and JR-affiliated QR code payment services aim for a comeback with bold campaigns

◇ J-Coin Pay: Get an Amazon Echo Show 5 with new registration and a charge of 30,000 yen or more!

J-Coin Pay is a service led by Mizuho Bank. Although its campaigns are infrequent, they often have significant impact. One such example was the “Bonus Cashback Festival” held between February and March 2025, which gained attention for offering up to 6,000 yen worth of J-Coins—10% of the amount spent. From late March to the end of April, a generous campaign is running where new users who register and charge 30,000 yen or more receive an Amazon Echo Show 5 (2nd generation) smart display. However, it’s important to note that eligible funding sources are limited to Mizuho Bank and select regional banks.

◇ Air Wallet: Up to 50% cashback! Anticipation builds for large-scale payment campaigns

Air Wallet is a payment app utilizing the “COIN+” system developed by Recruit and Mitsubishi UFJ Bank. Thanks to its extremely low merchant fee of 0.99% (excluding tax), it’s rapidly gaining popularity among stores.

High cashback campaigns aimed at attracting new users are held frequently. In February 2025, a large-scale campaign offered up to 50% cashback (with a cap of 3,000 yen equivalent for new users and 500 yen equivalent for existing users). More major campaigns are expected in the future.

◇ Wesmo!: Discounts on bullet trains and limited express trains, plus Green Car upgrades! The new QR code payment service from the JR West Group

Launching this spring is Wesmo!, a QR code payment service introduced by the JR West Group—the first of its kind among “JR-affiliated” offerings. Users will be able to earn and use JR West’s common rewards currency, “WESTER Points.” These points can be applied toward discounts on Shinkansen (bullet train) and limited express tickets, as well as upgrades to Green Car seats, potentially giving the points a value exceeding 1 yen each. Since new services often launch with major promotional campaigns, it’s worth keeping an eye out for the official release.

Existing QR code payment services, once similar across the board, are now starting to refine and highlight their individual strengths

◇ Rakuten Pay: Earn up to 4.5% cashback with a clever method!?

Rakuten Pay and d Payment are neck and neck for second place in usage rates. Rakuten Pay stands out for its simple structure—just using Rakuten Cash for payments earns a steady 1.5% cashback. In contrast, PayPay requires 30 transactions and 100,000 yen in monthly spending to reach the same rate, making Rakuten Pay’s unconditional 1.5% a strong advantage.

Moreover, by creatively charging Rakuten Cash, users can significantly boost their cashback rate. Here’s one route:

(1) Use the V Point Card Prime (1.5% cashback on Sundays) to charge JAL Pay (Apple Pay)

(2) Charge WAON from JAL Pay (Apple Pay) (0.5% cashback)

(3) Use WAON at Ministop to buy a Rakuten Gift Card (1% cashback)

(4) Charge Rakuten Cash using the Rakuten Gift Card

This route enables a total of 4.5% cashback.

◇ d Payment: Up to 3.5% cashback with the “d Day” campaign on Fridays and Saturdays!

d Payment offers increased benefits with special plans for Docomo users, but even non-Docomo users can benefit. The weekly d Day campaign (every Friday and Saturday) adds a 3% bonus to the usual 0.5% base rate, for a total of 3.5% cashback when shopping online. Participating stores include UNIQLO Online, MUJI Net Store, and even McDonald’s mobile ordering. If you’re a Docomo user, d Payment is also available on Amazon.

◇ au PAY: Withdraw points as cash using au Jibun Bank

Currently holding the fourth position, au PAY is gaining momentum with frequent coupon offers. Charging au PAY via a 1% cashback credit card like the au PAY Card earns 1% on the charge and 0.5% on payments—totaling 1.5% in Ponta Points. Additionally, by using au Jibun Bank, these points can be charged to au PAY and withdrawn as cash, making it a unique option for those looking to convert points into money—a niche that other services don’t currently cater to.

◇ AEON Pay: “Well-Katsu” lets you shop at 1.5x value every 20th of the month

AEON Pay offers many perks tied to the AEON Group’s economic ecosystem. A notable feature is the frequent “10x WAON POINT” promotions at affiliated stores. Accumulated WAON POINTs can be used at AEON’s Welcia drugstores, where every 20th of the month you can shop at 1.5 times the point value—a popular practice known as “Well-Katsu”. This setup allows users to both earn and redeem points effectively within the AEON ecosystem, creating a rewarding loop.

◇ Famipay: Earn 2% cashback on POSA card purchases—and more!

Famipay, FamilyMart’s QR code payment service, offers 2% total cashback on certain days (1st, 5th, and 10th of each month) when purchasing POSA cards like Apple Gift Cards. You get 0.5% standard cashback plus a 1.5% bonus. Charging Famipay using a 1% cash back JCB card (such as PayPay Card or Rakuten Bank JCB Debit) increases the total cashback to 3%.

The purchased POSA cards can be used in different ways—Vanilla VISA cards can be charged to Suica, Amazon Gift Cards are usable on Amazon, though Rakuten Gift Cards are excluded from this promotion.

From a once uniform field, QR code payment services are now differentiating themselves through unique strengths and tailored strategies. Choose a payment service that fits your lifestyle and the economic ecosystem you use most to maximize benefits.

Note: Some campaigns mentioned in this article may require prior registration or entry.