Date : May 21, 2019
Video report: Is Japan Reluctant to Shift to a Cashless Society?—Current Situation and Outlook (Mr. Yuki Fukumoto, Researcher, NLI Research Institute Financial Research Department)
post date : 2019.05.22
With the Golden Week holidays this year being an unprecedented ten days in length, long lines formed at banks in Japan as people went to withdraw money before the holidays, with some locations even running short on cash. As this shows, Japanese consumers prefer paying with cash, and cashless payments account for only around 20% of transactions, less than other developed nations. The national government has set a goal of increasing the percentage of cashless transactions to 40% by 2025. However, Japan also made moves towards a cashless society sooner than other nations did, such as prepaid cards for public telephones and trains or automatic withdrawals for utility payments, and recently mobile payment with smartphones has been rapidly growing in popularity.
The FPCJ invited Mr. Yuki Fukumoto, Researcher of the Financial Research Department at NLI Research Institute, to discuss the shift to a cashless society in Japan, including its current situation, problems, and future outlook.
The briefing had a total of 16 participants including journalists from China, France, Germany, South Korea, and the U.S.A.
- Date: May 21 (Tuesday), 2019, 14:00-15:30
- Briefer: Mr. Yuki Fukumoto, Researcher of the Financial Research Department at NLI Research Institute
- Language: Japanese (with consecutive English interpretation)
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