Nearly 20% of Japan households using e-money but cash still king
Almost a fifth of households use electronic money for small purchases, a survey by a central bank-affiliated research institute shows, up from a year ago and a sign the culture of cash-hoarding is changing. In the survey conducted between June and July, 18.5 percent of ...
Despite Japan’s quest to go cashless, nation’s growing elderly population proves reluctant
Cash is king in Japan, and more so for the country's fast-aging 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 ...
400,000 users still have deposits in 7pay as Seven-Eleven scraps embattled service
Seven-Eleven Japan Co. has terminated its embattled 7pay smartphone-based cashless payment service, leaving around 400,000 users still with unused deposits in the service. The service was scrapped Monday after just three months, following cases of security breaches immediately after its introduction on July 1. Some ...
Presence of Japan's ¥1 coins likely to fade further with tax hike
Small and silver in color, the ¥1 coin may not have much of a presence after the consumption tax rises from 8 percent to 10 percent on Oct. 1. In addition to the spread of cashless payments using electronic money or credit cards, an increase ...
Can a tax rebate persuade Japan's mom-and-pop stores to shift to cashless payments?
Despite the government pushing the opportunity to accelerate Japan’s shift away from cash, many small-business owners are hesitant to change over to cashless payments.
JR East and Tokyo Metro to debut special IC cards aimed at tourists
From Sunday, visitors to Japan will be able to go cashless while traveling across the country, with major rail operators set to release new rechargeable prepaid transportation IC cards for tourists. The Welcome Suica cards, to be offered by East Japan Railway Co., or JR ...
In high-tech Japan, cash remains king, defying mobile payments
Once a pioneer in technologies for cashless transactions, Japan is now lagging the world's biggest economies in the embrace of electronic payments because most of the population still prefers physical money. Four out of five purchases are still made with cash in Japan, despite its ...
Seven & I to scrap 7pay smartphone payment service in Japan after users hacked
The Tokyo-based retail giant and operator of 7-Eleven convenience stores said it will end the service on Sept. 30.
Seven & I Holdings resets all 7pay passwords after ¥38.6 million hack
Seven & I Holdings Co. said Tuesday that it has reset passwords for all of the roughly 16.5 million registered 7pay IDs, which are needed to use its smartphone payment service, following a recent security breach of the service. Users will need to register new ...
Government urges Seven-Eleven Japan to beef up security after 7pay mobile payment fraud
After customers were allegedly defrauded through unauthorized access, the Ministry of Economy, Trade and Industry tells the operator of Seven-Eleven convenience stores that its mobile payment service is not secure enough.
One of two Chinese men held had paid ¥730,000 for 146 cartons of electronic cigarette cartridges at convenience store in capital using stolen IDs.
Users of 7-Eleven's mobile payment service lose total of ¥55 million after 900 accounts hacked
Tsuyoshi Kobayashi, president of Seven Pay Co., said the company will compensate users for the losses caused by fraudulent access.
