Gen Z Doesn't Need Cash or Wallets?! PayPay (43%) Ranks 1st, Rakuten Card (19%) 2nd, with Different Support Reasons, Revealed by Z-SOZOKEN in 8th Insight Summary.

Fiom LLC (Headquarters: Shibuya-ku, Tokyo, Representative: Yohei Takeshita), a creative company specializing in Gen Z, operates the think tank "Z-SOZOKEN (Gen Z Creativity Research Institute)", where Gen Z individuals analyze actual conditions and values. We have independently released the eighth insight summary, which deeply examines the trends in the financial industry sector from the latest research report on the "Brand Ranking Where Gen Z's Image Skyrocketed" across 19 departments including food, cosmetics, apparel, and entertainment, conducted among 300 Gen Z individuals (18-24 years old) nationwide.

In recent years, with the spread of cashless payments and the start of new NISA, the values of young people towards money are undergoing significant changes. Financial industry marketers are constantly struggling with "how to get Gen Z to choose their financial services and payment platforms as their 'first choice'."

However, traditional promotions that merely advertise "high point還元率 (point return rates)" through temporary campaigns or talk about "convenience" from a system perspective are unlikely to resonate with Gen Z, who prioritize "タイパ (time performance)" that can be completed with a single smartphone. In some cases, this has not led to their adoption as a primary daily payment method.

Against this backdrop, "Z-SOZOKEN (Gen Z Creativity Research Institute)", a research organization specializing in Gen Z, has selected the "financial industry," which is an indispensable part of Gen Z's daily infrastructure, from the overall ranking results across 19 departments.

We will analyze and present the reality that today's Gen Z, who have completely moved away from cash-based systems, are clearly bifurcating and evolving in their demands for financial brands: "transfer functions that facilitate communication with friends" and "a robust point economy integrated into daily consumption," along with their underlying psychology, from a novel and unique perspective.

Decoding Gen Z's Financial Brand Evaluation: Unique Insights

The financial industry sector of this survey revealed that Gen Z finds completely different values in each brand: "infrastructure for real human relationships" and "self-contained point accumulation activities."

・The undisputed king of cashless infrastructure, PayPay, takes a commanding 1st place (Image improved: 43%)

PayPay was the brand with the most improved image. It has solidified its position as a communication infrastructure, akin to social media, not just for payments at stores but also for smoothly handling "splitting bills" and "advancing payments" among friends.

・Rakuten Card, the entry point for first credit cards and economic spheres, follows in 2nd place (Image improved: 19%)

Rakuten Card ranked second. Its low screening hurdle makes it a popular choice for "the first credit card to get in life." Additionally, the overwhelming advantage of the "Rakuten Economic Zone," where points are earned rapidly through daily shopping, garners strong support from pragmatic Gen Z.

・Rakuten Pay accelerates economic zone synergy, ranking 3rd (Image improved: 10%)

Rakuten Pay followed in third place. The convenience of seamlessly spending points earned with Rakuten Card on small daily purchases at convenience stores and other locations proves the success of its ecosystem (economic zone) strategy.

[Research Report Commentary] Detailed Ranking of the "Financial Industry Sector" and Deep Analysis

Based on the data in the main report, we will further explore the real values Gen Z holds for financial brands and the marketing hints that companies should glean from them.

1st Place: PayPay (Image improved: 43% / Image skyrocketed the most: 26%)

As exemplified by the comment, "I don't carry a wallet anymore because I can use it anywhere, and I send money to friends via PayPay for splitting bills" (22 years old / University student / Tokyo), the biggest factor for PayPay's top ranking is its complete transformation of the payment app from a "tool for store payments" to "infrastructure for person-to-person communication." For Gen Z, not being able to say "I'll send it via PayPay" when settling bills for meals or outings can be a source of stress (friction) in friendships. The strong network externality of "everyone uses it, so I use it too" means it now functions not as a substitute for wallets or cash, but as an "essential interpersonal infrastructure" alongside LINE and other services, leading to its absolute brand power.

2nd Place: Rakuten Card (Image improved: 19% / Image skyrocketed the most: 9%)

As stated in the comment, "It was the first credit card I ever got. I earn points rapidly, so I basically pay with this for all my shopping" (24 years old / Working adult / Osaka), Rakuten Card functions as Gen Z's "base camp for point accumulation activities (poi-katsu)." Gen Z, who are extremely sensitive to both time and cost performance, enjoy the game-like aspect of "how efficiently they can receive rewards" for the same amount spent. The image of "earning points easily," long ingrained through TV commercials and online ads, combined with the vast "Rakuten Economic Zone" where benefits can be received in actual e-commerce (Rakuten Ichiba) and physical stores, is their biggest draw.

3rd Place: Rakuten Pay (Image improved: 10% / Image skyrocketed the most: 9%)

As indicated by comments like, "I can use and earn Rakuten Points, so it's convenient for small purchases at convenience stores" (23 years old / Working adult / Kanagawa), Rakuten Pay demonstrates the power of "seamless point spending within the economic zone." The experience of spending accumulated points with "cash-like" convenience on small daily purchases, when used in conjunction with the 2nd place Rakuten Card, gives Gen Z a strong sense of "value for money." By functioning not as a standalone payment app but as part of a large ecosystem, it prevents user churn and creates a powerful cycle that boosts overall brand favorability.

Survey Overview

Survey Name: Brand Ranking Where Gen Z's Image Skyrocketed

Target Survey: Gen Z nationwide (18-24 years old)

Survey Period: September 2025

Survey Method: Online questionnaire survey

Valid Responses: n=300

Survey Analysis: Z-SOZOKEN (Gen Z Creativity Research Institute) (Operated by: Fiom LLC)

Usage Conditions

Please clearly state "Fiom LLC" as the source of information.

Download the Complete Research Report (51 Pages) for Free

The content introduced here is an excerpt from the 19 departments and only a small part of the research report.

The full report includes the complete "Image Skyrocketing Ranking" for all 19 industries, including the financial sector introduced in this release, as well as SNS, apparel, cosmetics, food, retail stores, cafes, travel, e-commerce, education, games, video streaming, music/theater, and sustainability.

Furthermore, it analyzes specific brands whose image has "declined" and their fatal causes, with candid opinions from Gen Z.

It is packed with real Gen Z insights that can be immediately applied to your brand strategy and communication measures starting tomorrow.

If you are even slightly interested, please download and utilize it from the link below.

Comment from Z-SOZOKEN Director

For Gen Z, financial and payment services are no longer "stuffy things for managing money," but have completely bifurcated and evolved into "infrastructure that smooths relationships with friends" and "point accumulation activities enjoyed like a game."

The success of PayPay and the Rakuten Group, highlighted in this eighth insight summary, proves that Gen Z's approach to financial services has shifted from the phase of "is it functionally superior?" to the phase of "how seamlessly does it integrate into my lifestyle and relationships?" or "how much can I gain by combining it with my daily consumption behavior?"

For companies to increase engagement with Gen Z, simply promoting high point return rates is insufficient.

Companies that can design communication deeply aligned with the target's "consumption context and human relationships," such as providing an experience like PayPay's where it "becomes a necessity for their communication," or like Rakuten Card's, offering "overwhelming convenience linked to the daily economic sphere," will be able to "skyrocket" their brand image.

"Gen Z Research Menu" for Discovering Real Insights by Gen Z Individuals

Z-SOZOKEN offers a "Gen Z Research Menu" where Gen Z researchers directly handle projects tailored to corporate challenges, going beyond independent research.

Instead of external observation-based research from an adult perspective, we achieve "synchronization of passion" as individuals living in the same era as the target audience, uncovering deep psychology and contexts not visible in superficial surveys. We define the "inevitability" for your brand to be chosen by Gen Z.

[Offered Plans (Partial Excerpt)]

・Z-SOZOKEN Market Research Plan (Standard Menu)

We create and deliver original research reports that unravel the reality by conducting hypothesis formulation, quantitative surveys, and qualitative interviews.

・Z-SOZOKEN Insight Research Plan (Standard Menu)

In addition to market research, we provide end-to-end support, including in-depth research and integrated PR support (press release distribution) for making issues widely known.

・Customized Research by Objective (Single Menu)

We propose optimal approaches tailored to your objectives, such as in-depth interviews, group interviews, nationwide quantitative surveys, and evaluation/improvement of existing creative from a Gen Z perspective.

Specific pricing, schedules, and deliverables for each plan are exclusively available within the service brochure. Companies facing challenges in Gen Z marketing research or customer understanding are encouraged to download the brochure from the link below for details.

To Those Struggling with Appealing to Gen Z

"I don't know how to promote financial and payment services that resonate with Gen Z."

"New account openings, card issuances, and app usage among young people are not growing."

To all the representatives who felt this way after seeing the survey results.

Our company is a creative company specializing in Gen Z, composed entirely of Gen Z members.

We provide one-stop integrated support, from marketing research and strategy design to planning, production, and operation, by leveraging Gen Z's unique sensibilities and perspectives.

Please feel free to contact us if you are having trouble with marketing/branding for Gen Z or young people.

https://fiom-llc.studio.site/contact

About "Z-SOZOKEN (Gen Z Creativity Research Institute)"

Creating the Future with Gen Z's Creativity. A Next-Generation Think Tank Specializing in Gen Z.

"Z-SOZOKEN" is a next-generation think tank specializing in Gen Z, operated by Fiom LLC, a creative company for Gen Z. It unearths and explores new insights through analysis from the perspective of Gen Z peers.

Gen Z individuals grasp and analyze the realities and values of Gen Z from various viewpoints.

We unravel the unknown culture of Gen Z, at the forefront of the times, and explore new values that will lead the era.

We provide practical marketing information that can be utilized for designing communications and promotions that resonate with Gen Z, centered on empathy, originating from real Gen Z.

Official Website: https://z-sozoken.studio.site

About Fiom LLC

A Creative Company Specializing in Gen Z, by Gen Z

A creative company specializing in Gen Z, with all members being Gen Z.

We implement a Gen Z-centric approach based on Gen Z's creativity.

We provide execution support from upstream design to production and operation of advertising communications for Gen Z.

A creative company that leverages the sensibilities of Gen Z, at the forefront of the times.

Company Name: Fiom LLC
Address: 6-23-4 Jingumae, Shibuya-ku, Tokyo Kuwano Building 2F
Established: October 15, 2021
Representative: Yohei Takeshita
HP: https://fiom-llc.studio.site

Inquiries Regarding This Matter

Email: [email protected]
Inquiry Form: https://fiom-llc.studio.site/contact