JAPAN'S SHOPPERS ADOPT CASHLESS PAYMENTS FASTER THAN EXPECTEDキャッシュレス決済 4割に

Japanese shoppers have been switching to cashless payments at a faster rate than the government expected. Over 40 percent of all the money transacted last year is believed to have been done by credit cards, electronic money, and other methods not requiring paper bills and coins. The economy ministry says the figure for 2023 was more than 126 trillion yen, or over 840 billion dollars. That accounts for nearly 40 percent of the total volume. The figure for last year will be released by next week. But it will almost certainly exceed the government target of 40 percent by June 2025. The ministry credits the steady pace of adoption to an increase in the number of small and mid-sized restaurants accepting QR-code payments. Businesses pay relatively low fees for the systems. An expert says if cashless payments are to grow further, consumers will need to experience not only economic advantages but also greater convenience.

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