Most used cashless payment methods in Japan 2024
Credit cards were the most used cashless means of payment in Japan, according to a survey conducted from February to March 2024. Around 70 percent of the respondents stated that they used credit cards in their daily lives, while 6.9 percent only used cash.
Promotion of cashless payments
To promote cashless payment methods and mitigate the effects of a tax hike, the Japanese government introduced a reward point system for cashless purchases in 2019, which led to an increase in cashless payments. In addition, more people resorted to non-cash payment methods to avoid contact during the COVID-19 pandemic. Although Japanese consumers still have a preference for cash, its use in POS transactions has declined in the past years.
Most used payment methods
The choice of payment methods depends on many factors, such as the location and amount of purchase. In Japan, credit cards remain the most widely used cashless payment method. However, the share of credit cards in Japan’s cashless payment volume has steadily declined in recent years, giving way to a growing share of QR code payments. Since 2018, the value of mobile QR code payments, which can be linked to credit cards and bank accounts or precharged with cash, has increased significantly.
