Japan launches Cashless Week Campaign for Golden Week holiday

By Olivia Minnock
This year, Japan’s Golden Week holiday (a 10-day celebration from 27 April to 6 May) will be used to incentivise cashless payments across the country...

This year, Japan’s Golden Week holiday (a 10-day celebration from 27 April to 6 May) will be used to incentivise cashless payments across the country.

Japan will run a campaign across the 10 days called The Cashless Week, run jointly by the industry ministry and the Payments Japan Association, which consists of companies and municipalities.

The initiative, announced on Wednesday 13 March by the industry ministry, will involve businesses offering reward points and coupons to those who choose cashless payment methods such as cards or payment apps.

SEE ALSO:

40 businesses are participating, including Japan’s three megabanks: Mitsubishi, Sumitomo Mitsui and Mizuho. Credit card companies and firms that operate via smartphones though QR codes will also be involved.

While some areas in Asia, such as Singapore, have become almost entirely cashless, alternative payment methods haven’t taken off as much in Japan: in 2016, only 20% of payments were cashless. It is hoped the celebration will encourage use of quick, easy payment methods which in turn spurs on commerce.

Share

Featured Articles

The challenges of address data in cross-border payments

A truly global solution is critical to meeting cross-border needs at scale, writes Loqate, a leading developer of global address verification solutions

Top 10 fintech disruptions to watch out for in 2023

From new technologies to tough regulations for crypto, 2023 is already looking like a year of change for fintech.

PBF CEO, Morgan McKenney on blockchain, DeFi & tokenization

Morgan McKenney is the CEO of the Provenance Blockchain Foundation (PBF). We caught up with her to talk advances in blockchain technology and 2023 trends

UAE-based BNPL fintech Tabby secures $58mn in Series C round

Digital Payments

Why seamless cross-border payments transform transactions

Digital Payments

Top 10 mobile banking apps of 2022 by number of downloads

Banking