Japanese card issuer Rakuten Card has established Taiwan Rakuten Card, its first venture outside Japan, to issue credit cards aiming at the Taiwanese market.

The new card company, which has started accepting applications, will offer a credit card with no annual fee allowing cardholders to earn Rakuten Super Points equivalent to 1% for each purchase with an opportunity to earn additional 1%, when used on Rakuten Ichiba Taiwan shopping mall.

The company will allow cardholders to redeem Rakuten Super Points for shopping on Rakuten Ichiba Taiwan evaluating 1 point equal to 1TWD.

Rakuten Card will celebrate the launch with a campaign presenting cardholders with 300 Rakuten Super Points for their first use of their Taiwan Rakuten Card along with additional campaigns aimed at cardholders travelling from Taiwan to Japan and spending through Taiwan Rakuten Travel for reservations.

Taiwan Rakuten Card president Eiji Ishii said in a press conference: "Eyeing the strong market potential in Taiwan, we hope that the total number of credit cards issued will hit the one million mark in the next few years."