In high-tech Japan , cash is still king
[TOKYO] Once a pioneer in cashless transactions, Japan is now lagging behind as the world's biggest economies increasingly embrace electronic payments - because its ageing population still prefers physical money. Read more at The Business Times.
"The challenge from now on is how to motivate people" to change their habits, said Fukumoto.
The Japanese government is hoping to seize on a wave of tourists expected to flood in for the 2020 Tokyo Olympics to double the amount of electronic payments to 40 per cent by 2025.
Companies too are doing their best to promote a cashless society - earlier in the year, mobile company Rakuten started"100-per cent cashless" stadia for its baseball and football teams.
And Rakuten boss Hiroshi Mikitani is convinced that the future is cashless, even in Japan.Read more: The Business Times
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