Payments News

On The Web

nbsp; nbsp;

Global

Industry ministry report urges Japan to shed custom of cash dependence

“The report, entitled “Cashless Vision,” said more cashless payments could help ease the country’s labor shortage and benefit foreign tourists, and that if current levels are maintained it could cost the economy hundreds of billions of yen in the coming years. It said that Japan should strive to boost the cashless payment ratio to 40 […]
nbsp;

Global

Banks Rush to Turn Japan Cashless

“Japanese banks, long content to foster the nation’s love for cash, are now diving into digital payments thanks to a regulatory change that threatens to usher in new rivals. In recent months, lenders around the country have announced a flurry of initiatives designed to grab a slice of the $50 billion market for electronic settlements. Projects […]
nbsp;

Global

“Japanese banks, long content to foster the nation’s love for cash, are now diving into digital payments thanks to a regulatory change that threatens to usher in new rivals. In recent months, lenders around the country have announced a flurry of initiatives designed to grab a slice of the $50 billion market for electronic settlements. Projects […]
nbsp;

Global

Japan aiming to promote cashless payment services

“In its “Cashless Vision,” compiled in April, the Ministry of Economy, Trade and Industry set a goal of raising the proportion of cashless payments, including through electronic money and credit cards, in overall household spending to 40 percent in 2025 from 18.4 percent in 2015.”
nbsp; nbsp; nbsp;

Companies

EBay Paid $573M To Buy Japanese e-Commerce Platform Qoo10, Filing Reveals

“The deal underscores how eBay is at the same time pulling back from general plays while doubling down on more targeted opportunities. Earlier this year, the company gave up its stake in Flipkart  as part of its acquisition by Walmart, but at the same time committed to investing in a new, standalone eBay operation in India, using some […]
nbsp;

Global

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 […]
nbsp;

Companies

Amazon And SoftBank Vie To Take Japan Cashless

“The platforms offered by the U.S. online retail giant and the Japanese tech and investment powerhouse will require minimal investment by merchants. That approach is friendly to smaller businesses — a group that is estimated to account for about 90% of Japan’s shops — for whom obtaining specialized equipment is a heavy burden. Through local arm Amazon Japan, […]