Fast and convenient, mobile payment apps are taking over the world—Japan included. The mobile wallet market is challenging Japanese society’s love of coins and crisp banknotes. In 2018, 25% of smartphone owners had made at least one purchase using their mobile phone, a trend likely to boom in 2019.
But before Japan kneels before a cashless world, it needs a strong guarantee that citizens’ privacy and security aren’t being sacrificed at the altar of convenience.
Luckily, we have the recent 7Pay app fiasco to give us all a good wake-up call that mobile pay isn’t always the savior we need.