First Meeting of the Study Group on the Future Direction of Cashless Payment to Be Held

1. Background and purpose

Based on the Cashless Vision formulated in April 2018, the Ministry of Economy, Trade and Industry (METI) is working to promote cashless payment with the aim of increasing its ratio to around 40% by 2025 and to 80%—the world's highest level—in the future.
To date, the Japanese government has encouraged both retail stores and consumers to use cashless payment through the implementation of point reward programs, and the payment method is steadily spreading throughout society, with the cashless payment ratio reaching 32.5% in 2021.
In order to further popularize cashless payment, it is necessary to indicate the direction that cashless payment in Japan should move in.

2. Outline of the study group

In addition to ascertaining the current status of the use of cashless payment in Japan, this study group will examine the social significance of introducing this payment method and its future direction, in light of current trends and anticipated changes in the technology and business environments, and new target indicators to aim for.

3. Schedule for the study group's meetings

The first meeting will be held on September 28 (Wed.) with about five meetings in total planned within the fiscal year. The meetings will be conducted privately in order to ensure that the members can engage in a free and frank exchange of views, but the summaries of the minutes and related materials will be released in principle upon agreement of the participants.

Division in Charge

Cashless Payment Promotion Office, Commerce and Service Industry Policy Group