Japan's largest credit card company, Rakuten Card, is aiming to almost double its annual operating profit to 100 billion yen ($663.7 million) in the medium term and sees opportunity in expanding into the largely untapped business-to-business payments market, its new chief executive officer said. Although Japan's shrinking population is hitting demand in much of the domestic economy, the credit card and payments markets are a rare growth area as digitalisation of financial services booms in what was once a cash-dominated economy. Rakuten Card, which can only be applied for online and is part of Rakuten Group - an e-commerce and financial services conglomerate - has ridden this wave to issue more than 30 million credit cards to date and booked an operating profit of 62.1 billion yen in 2024, up more than 20% on 2023.