Japan: Ministry of Economy Trade and Industry Publishes Reports on Cashless Economy

On April 11, 2018, the Ministry of Economy, Trade and Industry in Japan published two reports titled “Cashless Vision” and “API guidelines for credit card data usage”, regarding the major goals to be achieved over the coming years and the necessary measures to be taken.

The reports are the result of a study launched in 2017 on API cooperation between credit card and fintech companies on credit card data utilization, and its purpose is to address concerns on Japan’s low levels of cashless payment usage by merchants and .

Some of the main issues highlightened in the report on cashless vision include the following:

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