Japan hesitantly moves toward a cashless society

Japan hesitantly moves toward a cashless society | The Japan Times

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"According to the report ‘Cashless Vision,’ compiled by a panel of experts under the Ministry of Economy, Trade and Industry, cashless systems at retail stores will save manpower at a time when Japan desperately needs to improve productivity amid a labor shortage and declining population.

Also, shifting from cash to digital money will improve the transparency of money flows that will enable the government to collect taxes more accurately and efficiently.

The cost of handling cash is increasingly worrying businesses. Nomura Research Institute estimates such costs exceed ¥1 trillion annually."

From "Japan hesitantly moves toward a cashless society | The Japan Times".

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