REUTERS/Tetsushi KajimotoPrime 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.
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.
Cashless payments will also allow stores to automate sales estimates and banks to cut back on costly automated teller machine networks.
“Everyone likes cash, don’t they?,” a 65-year-old woman in Tokyo said, while looking at a cashless payment app banner.
In a bustling shopping district of Tokyo’s downtown Yanaka Ginza, many small stores have yet to embrace cashless transactions.