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Meeting of the Working Group for the Standardization of Credit Card Data to be Held

The Ministry of Economy, Trade and Industry (METI) has been working toward the effective use of increasing amounts of consumption data which will accompany the expansion of a cashless society. To achieve the goal, it decided to establish a Working Group (WG) for the Standardization of Credit Card Data to standardize necessary data involved in cashless settlement, and the WG will hold its first meeting.

The WG plans to hold a few meetings per month and to compile a report around the end of 2016.

1. Background

As the initiatives for realizing a cashless society are being advanced in order to stimulate spending by overseas visitors to Japan, it is expected that the effective use of consumption data accumulated through cashless settlement will contribute to the creation of new businesses and industries and increase consumption in regional areas by overseas visitors.

Having raised public awareness of this issue, METI discussed related issues at the meetings of the Study Group on the Credit Card Industry and Big Data in FY2015. Based on the results of the discussion, the government of Japan decided to include a policy for promoting the standardization of necessary data involving cashless settlement and purchase information in the Japan Revitalization Strategy 2016, as a goal that Japan should strive for by the end of 2016. The policy was approved by the Cabinet in June 2016.

In response, METI decided to hold the first meeting of a Working Group (WG) of credit card businesses for the Standardization of Credit Card Data, aiming specifically to standardize data in the areas expected to be utilized in broad business fields.

2. Future actions

1) Date and time of the first meeting and other information

Date and time
Tuesday, July 19, 2016; 13:00-15:00 (door will open at 12:30)
Venue
Shared Meeting Room 105 on the first floor, METI Annex

Note: The meeting will not be open to the public in order to ensure that the WG members are able to exchange their opinions in a frank and unrestrained manner. A report will be compiled and publicized.

2) Agenda of the first meeting

Current state of target data for standardization and related challenges

Note: Agendas of the second and latter meetings

  • Issues and challenges toward standardization initiatives
  • Discussing schedules and measures for achieving standardization (formulation of an action plan)

3. Members of the WG

Release date

July 19, 2016

Division in Charge

Commerce and Consumer Affairs Policy Division, Commerce, Distribution and Industrial Safety Policy Group

Ministry of Economy, Trade and Industry1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
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