Can Japan leave cash behind?

摘要

DESPITE JAPAN'S HI-TECH IMAGE, the adoption of digital payments has been sluggish at best. As the rest of the world moves to frictionless payments and realtime transactions, cash remains the preferred way to pay in the country. But things could be about to change, as Kimberley Long reports in this month's cover story (page 22). She explores the rise of mobile payment platforms, including PayPay, Line Pay and Rakuten Pay, which have gained traction during the Covid-19 pandemic. On the horizon is also the possibility that the Bank of Japan will launch a digital yen. The changing payments landscape worldwide is a theme in this issue. James King takes a look at payment industry developments in Europe, including the debate around Visa and Mastercard interchange fees, on page 52, and the success of Russia's Mir payments system, on page 54. In our Tech Vision column, on page 84, Ken Moore, chief innovation officer at Mastercard, talks about how the global payments companies is getting ahead of emerging technologies, such as 5G and the Internet of Things.