Sections

In Japan elderly aren't so keen to go cashless





Cash is king in Japan, and more so for the country’s fast-ageing population who are still deeply reluctant to give it up.
  Prime Minister Shinzo Abe’s push to make more Japanese - the world’s most dedicated cash-hoarders – switch to using cashless payments is producing some success, but not nearly as much as desired. A growing rank of the nation’s elderly pensioners are resisting change, which could see Japan fall further behind its peers in adopting mobile app payments and electronic money.
 
Tokyo wants to double the ratio of cashless settlements to 40% by 2025 and to 80% eventually to spur labor productivity. Japan pales in comparison with other countries – 96% of transactions in South Korea and 66% in China are cashless, data by an industry lobby Payments Japan Association shows.
 
The transition to digital transactions will help Japan cope with a shrinking population and a tight labor market. Cashless payments will also allow stores to automate sales estimates and banks to cut back on costly automated teller machine networks.

Read more



Go Further
1 2








The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

The cashless society from an ethical point of view









Newsletter subscription

Top Ten Things To Know

The debate

The Dangers of a Cashless Economy

"It's time to halt the relentless drive for a cashless society" Ross Clark

Cashless society: two sides of the debate

The cashless society in question: why going cashless puts privacy at risk?

The IMF wants to ban cash so so you pay the bank to hold your money

A cashless society may not equal financial inclusion

What the demise of the cashless society will really mean

Is going full cashless society a threat?

Cashless backlash delays move to walletless economy

What are the pitfalls of a cash-free society ?