E-money transaction value Japan 2014-2023

In 2023, the value of transactions conducted via electronic money in Japan amounted to approximately 6.4 trillion Japanese yen, marking a 5.3 percent increase compared to the previous year. The e-money transaction volume also increased by 4.7 percent year on year.

Contactless electronic money payments

Electronic money is a contactless payment method that uses Near Field Communication (NFC) technology and allows users to hold a card or smartphone near a terminal to make payments. E-money in the form of prepaid IC cards was introduced as early as 2001 as a fare collection system for public transportation and has become a widespread payment method for small amount purchases used in convenience stores and supermarkets.

Cashless payment methods

The ratio of cashless payments has experienced significant growth in recent years, reaching 39.3 percent in 2023. Credit cards constituted the largest share of cashless payments, followed by QR code payments, and electronic money. The expansion of cashless payments in Japan was supported by the government’s cashless promotion campaign launched in 2019, and the COVID-19 pandemic likely played a role in accelerating this trend.