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Commission for Promotion of Cashless Settlement Established as New Industry-Academia-Government Organization

July 3, 2018

In April 2018, the Ministry of Economy, Trade and Industry (METI) compiled a policy document titled “Cashless Vision” and presented recommendations toward the establishment of a “Commission for Promotion of Cashless Settlement” to support industry, academia, and industry in advancing efforts to realize a cashless society. In response to the recommendations, METI hereby announces the establishment of the Commission consisting of promoters and initial members. METI will advance activities to realize a cashless society through activities of the Commission.

1. Background

METI held discussions to identify challenges to promoting cashless settlement and future directions thereof, and on April 11, 2018, released a policy document titled “Cashless Vision” as a compilation of the discussion results.

In “Cashless Vision”, METI made the case that in anticipation of the World Expo 2025 in Osaka, Kansai, Japan should achieve a higher ratio of consumers who utilize cashless settlement, and should do so ahead of the scheduled 40% goal called for in the “Declaration of Payment Reform” set in the Future Strategy 2017 (approved by the Cabinet on June 9, 2017). To promote cashless settlement in Japan, industry, academia, and government should collaboratively advance efforts under the framework of All-Japan initiatives. To this end, METI presented recommendations in the “Cashless Vision” to establish a Commission for Promotion of Cashless Settlement as an organization in which the industry, academia and government sectors will collaborate across industries.

In response to the recommendations, METI established the Commission for Promotion of Cashless Settlement consisting of promoters and founders.

The secretariat of the Commission will continue to call for new members.

2. Purpose of the Commission

The Commission aims to encourage related associations, organizations, ministries, agencies, and individuals inside and outside Japan to collaborate with each other toward realizing a cashless society as early as possible through a variety of activities.

Examples of expected major activities by the Commission

Note: The Commission will stipulate details in the future.

3. Secretariat’s website

The secretariat of the Commission has opened its website (see below) which it will use to convey information to the public.

Division in Charge

Consumer Affairs, Distribution and Retail Industry Division, Commerce and Service Industry Policy Group