Japan

Elsewhere on the Web provides updates and links to articles related to cash, money and payments curated on the web.

In Japan, seniors are the main targets of card scams worth hundreds of millions of dollars. The police is proposing to limit the use of bank cards for people aged 65 and over.

Cash in circulation grew by 5% in value in 2020. The growth is due exclusively to the increased demand for the 10,000 yen note, signaling as in many other countries the role of cash as a safe haven in times of crisis.

The Japanese government introduces incentives to promote electronic payments. The measure consists in a point-of-sale discount if approved digital payment are used. It poses challenges for the elderly and small shops.

The Japanese government is introducing policies aimed at promoting digital payments. But it doesn’t blur the fact that citizens are loyal to their yen, preferring cash over digital payments.

Although Japan accepts cryptocurrencies for payments, it confirms that they will not replace cash.

Japanese banks are launching mobile ATMs with extended banking services in order to meet the needs of rural populations and to be ready in case of a natural disaster.