Regardless of Japan being a closely cash-based economic system, e-commerce has created vital alternatives for banks and cellular pockets suppliers.

COVID-19 has fueled the nation’s web purchasing demand and, Japanese shoppers have demonstrated a choice to pay with bank cards and different digital fee types.

Based mostly on knowledge from a Frost & Sullivan weblog, about 75% of Japan’s fee transactions had been nonetheless being settled in money simply earlier than the COVID-19 pandemic struck. Nevertheless, that’s not essentially the case for web shoppers, which is a vital section of the retail panorama — Japan is the world’s fourth-largest e-commerce market, primarily based on United Nations knowledge, after China, the U.S. and U.Ok.

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