Recent Developments in Electronic Money in Japan (2012)

Payment and Settlement Systems Department
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Payment and Settlement Systems Department: Bank of Japan

No 2012-12-21, Bank of Japan Research Papers from Bank of Japan

Abstract: The total numbers of cards issued and terminals for electronic money continue increasing in Japan. Although the rates of increase have slowed somewhat compared to a while ago, they still remain at high levels. While the environment for the use of electronic money expands in this manner, the growth of value and volume of transactions settled using electronic money has recently accelerated slightly. The value and volume of transactions settled per card have continued their moderate growth, and combined with the increase in the number of cards issued, contribute to the increases in the total value and volume of transactions settled. The results of a recent opinion survey in Japan suggest that electronic money is being increasingly used as a settlement instrument for relatively small-value payments. However, the degree of diffusion varies (1) not only in the range of payment values, but also by (2) region, (3) age and (4) households. One of the characteristics is that especially in payments of JPY 1,000 or less, marked differences are observed among the regions. This possibly reflects differences in (a) the environment for the use of electronic money by region and (b) the availability of opportunities for using electronic money by age group. Despite these differences, on the whole, it would be safe to assume that electronic money is being increasingly used as a convenient retail payment instrument in Japan.

Date: 2012-12-21
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