Market Data Forecast’s "Japan Cards And Payments Market" report offers a distinct range of possibilities in the market of payment cards along with the accurately validated statistics of operational cards in the market and their total transactional values. It suggests profitable marketing strategies considering the competitive landscape in the market, purchase trends, payment options in online trade and significant government frameworks impacting the overall payment card market of Japan.
Our report kindles the hidden opportunities with dependable information about different types of cash transactions, volumes of cardholders, market proportion, current accounts, increase within the number of cards, credit cards outstanding balances, transactional values, details of the issuers at the side of available banking schemes and futuristic analysis of overall cards and payment marketplace in Japan.
The idea of the use of advanced technologies like visible light palm authentication biometric process by companies like JCB in partnership with Universal Robot and the National Institute of Advanced Industrial Science and Technology with the help of a smartphone to capture the patterns of palm and store in the server to match during the transactions and return the results.
The increasing prominence of alternative payments in the Japanese market like QuickPass, launched by UnionPay and Sumitomo Mitsui Card company allowing customers to pay at almost 100 merchants in Tokyu Plaza Ginza by tapping. Other alternative methods include Andriod Pay of Google introduced in partnership with Japan's Rakuten Edy, and Apple Pay providing contactless payment solutions with cards stored in their wallet.
New products by payment solution providers with more security features like replacing PIN by fingerprint authentication in the F-Code Payment card developed by JCB and France-based IDEMIA, and the upcoming Sumitomo Mitsui and US-based Dynamics company's partnered credit card with locking ability along with touch-activated buttons, LCD display, and LED lights.
Frequently Asked Questions
The key trends driving growth include the increasing adoption of mobile wallets, the expansion of contactless payments, the rise of e-commerce, and the Japanese government’s efforts to promote a cashless society. Additionally, advancements in biometric authentication and the growing acceptance of digital currencies are also contributing to the market's growth.
Japan is one of the most advanced markets in Asia, though it lags behind other countries like China and South Korea when it comes to cashless payment adoption. While Japan has made significant strides in digital payments, the market is still evolving compared to countries that have fully embraced digital wallets and contactless payments.
Biometric authentication, including fingerprint scanning, facial recognition, and voice recognition, is being increasingly adopted in Japan for secure and convenient payments. Financial institutions and retailers are incorporating biometric technology into their payment systems to enhance security and streamline user experiences, which is expected to drive further growth in the payments sector.
The future outlook for Japan’s cards and payments market is positive, with continuous growth driven by technological advancements in digital payments and the government’s push for a cashless society. The shift towards mobile payments, the rise of biometric authentication, and the growth of cross-border e-commerce are expected to further enhance the market, making it an essential hub in the global payment ecosystem.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1200
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region