{"id":12028,"date":"2019-11-05T18:40:44","date_gmt":"2019-11-05T13:40:44","guid":{"rendered":"http:\/\/umang.pk\/2019\/11\/japan-wants-to-go-cashless-but-elderly-arent-so-keen\/"},"modified":"2019-11-05T18:40:44","modified_gmt":"2019-11-05T13:40:44","slug":"japan-wants-to-go-cashless-but-elderly-arent-so-keen","status":"publish","type":"post","link":"https:\/\/umang.pk\/ur\/2019\/11\/05\/japan-wants-to-go-cashless-but-elderly-arent-so-keen\/","title":{"rendered":"Japan wants to go cashless, but elderly aren’t so keen"},"content":{"rendered":"
\n
\n

The transition to digital trading will help to cope with the country's population decline and the labor market pressure.<\/h3>\n<\/p><\/div>\n
\n \"On
\n

On November 5, 2019, a woman walks through an electronic stock bulletin board at a securities company in Tokyo.
\n(AP)
\n <\/figcaption><\/figure>\n

Japan's cash is king
\nFor the aging population of a country that still lives
\nReluctant to give up.<\/p>\n

Prime Minister Shinzo Abe to make Japan more
\nThe world's most dedicated cash holders, switch to cashless use
\nPayment is bringing some success
\nwant. <\/p>\n

Increasing rankings of pensioners across the country
\nJapan resists change
\nStay in Mobile App Payments and Electronic Money Adoption<\/p>\n

Tokyo is trying to double the cashless payment rate.
\nBy 2025, labor productivity increased by 40{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} and eventually 80{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}.
\nJapan is 96{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} compared with other countries
\n66{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} of transactions in Korea and China are cashless data
\nJapan Association Show Paying In Industrial Lobby.<\/p>\n

The transition to digital trading will help Japan cope
\nCashless population with reduced population and tight labor market
\nPayment also allows stores to automate sales estimates
\nBanks cut down on expensive ATM networks.<\/p>\n

Shoppers recently recommended throwing away cash with electronic money
\nGovernment
\nRebate program to alleviate the pain of sales tax hikes on October 1.<\/p>\n

Grants invest $ 2.57 billion for shoppers
\nIf you use cashless payments, you can get a refund in the form of points
\nIn small shops and convenience stores.<\/p>\n

Jumping on a bad balance<\/strong><\/p>\n

Large companies are aggressive campaigns
\nPromotion of electronic money payment systems, including SoftBank Group
\nE-Commerce Company, Yahoo Japan Corp
\nMercari and messaging app operator LINE Corp.<\/p>\n

Some had early success. <\/p>\n

QR code payment app
\nPayPay jointly owned by SoftBank and Yahoo Japan
\nMembership has increased to 5 million and 15 million since August.
\nParticipated in a government campaign<\/p>\n

East Railway Co., Ltd.
\nRailway's electronic payment system exceeded 11 million people
\nIt's been over a million since September.<\/p>\n

"Customers benefit from the convenience of electronic
\nGet paid and get paid while paying.
\nThere is no expression. "Said Tomoyuki Soyama, General Manager.
\nIT business development of the East Railway. "that is
\nFor everyone. "<\/p>\n

Direct costs including cash transactions
\nLabor at the checkout, about $ 736 billion
\nThis year, Mizuho Financial Group
\nWithout cash, such costs are greatly reduced.<\/p>\n

Vice President, Kumagai Satoshi
\nConvenience store financial services and digital business
\nChain operator Lawson Inc, said no cash ratio
\nPayouts increased from 25{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} in October to 20{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} previously.<\/p>\n

"It would be ideal to see all transactions being cashed
\nTo increase labor shortage and convenience
\nKumagai said.<\/p>\n

"On the other hand, we need to find a way to help them.
\nOld man who can be difficult to shop without cash. "<\/p>\n

Hoarding cash<\/strong><\/p>\n

Japanese households spend more than half of their assets
\nCash and deposit. The proportion is for the elderly, some
\nStick to cash to prevent wasteful spending.<\/p>\n

"Does everyone like cash?" 65 year old woman
\nTokyo said while looking at the cashless payment app banner.<\/p>\n

"I am not interested in cashless. I feel uncomfortable.
\nAlso not sure how in case you lose your phone
\nCompared to making money from your wallet. "<\/p>\n

Many small businesses
\nCashless payments, or very little benefit.<\/p>\n

Mom and Pop stores rely on their daily cash income
\nSaid you can't rely on bonds too
\nYukio Kawano, chairman of the lobby of the Japanese supermarket industry.<\/p>\n

Less than half of the approximately 2 million small businesses deemed eligible
\nSubsidies for cashless payments
\nGovernment campaigns for machine introduction costs
\nHigh transaction fees.<\/p>\n

Low crime rates, ultra-low interest rates and national
\nATM's web has long made attractive cash in Japan.
\nPeople have very few incentives to switch to cashless payments.<\/p>\n

But the trend may change gradually commercially
\nBanks integrate ATMs to reduce consumer access.
\ncash.<\/p>\n

Still, persuade older people to account for almost one third
\nIt will not be easy to change their practices.<\/p>\n

In Tokyo's bustling shopping district of Yanaka
\nGinza, many small shops haven't received cash yet
\ntask.<\/p>\n

Mitsuo Kotake, a 70-year-old small florist,
\nThree months ago I started providing PayPay.<\/p>\n

But entering a pin code and setting up the app are also simple
\nMost seniors are confused by coming customers
\nHe added to buy flowers for the tombs of loved ones.<\/p>\n

"Youth are easy to use, but older people aren't used to it." "I don't use cash. Cash is the fastest."<\/p>\n

Source: Reuters<\/p>\n<\/p><\/div>\n<\/pre>\n<\/pre>\n

Source Link : https:\/\/www.trtworld.com\/business\/japan-wants-to-go-cashless-but-elderly-aren-t-so-keen-31128?utm_source=other&utm_medium=rss<\/p>\n","protected":false},"excerpt":{"rendered":"

The transition to digital trading will help to cope with the country's population decline and the labor market pressure. On November 5, 2019, a woman walks through an electronic stock bulletin board at a securities company in Tokyo. (AP) Japan's cash is king For the aging population of a country that still lives Reluctant to […]<\/p>\n","protected":false},"author":1,"featured_media":12029,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts\/12028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/comments?post=12028"}],"version-history":[{"count":0,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts\/12028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/media?parent=12028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/categories?post=12028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/tags?post=12028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}