Even as cashless payments rise, low interest rates have driven people to hoard banknotes at home. Photo: Getty Images Even as cashless payments rise, low interest rates have driven people to hoard banknotes at home. Photo: Getty Images
Even as cashless payments rise, low interest rates have driven people to hoard banknotes at home. Photo: Getty Images

Japan’s digital payments rise as people avoid touching cash amid coronavirus pandemic

  • Japan has long been known for its heavy use of cash, which is a burden for banks that are trying to shift more routine, unprofitable tasks to digital channels
  • The government has set a goal of increasing cashless payments to about 40 per cent of all transactions by 2025, from about 20 per cent currently

Topic |   Coronavirus pandemic
Even as cashless payments rise, low interest rates have driven people to hoard banknotes at home. Photo: Getty Images Even as cashless payments rise, low interest rates have driven people to hoard banknotes at home. Photo: Getty Images
Even as cashless payments rise, low interest rates have driven people to hoard banknotes at home. Photo: Getty Images
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