Payments News


Japan Pushes Use Of Cashless Payments As Olympics Approach And Banks Strain

“Earnest efforts are underway in both the public and private sectors to promote cashless payments ahead of the 2020 Olympics. Credit cards, electronic money and other cashless systems account for 20 percent of all consumer payments in Japan, compared with 40 percent to 60 percent in the United States, European countries and China. The government and businesses consider it essential to substantially reduce society’s reliance on cash to stimulate spending by those expected to visit Japan for the Olympics and other international athletic events.”