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Payments Landscape in Japan Industry Trends, Growth, payment Industry, Volumes of Key Performance to 2022

May 2nd 2019 at 4:55 AM

This research report titled “Payments Landscape in Japan”: Opportunities and Risks to 2022 has been added to the wide online database managed by Market Research Hub (MRH). The study discusses the prime market growth factors along with future projections expected to impact the Payments Landscape in Japan during the period 2022. The concerned sector is analyzed based on different market factors including drivers, restraints and opportunities in order to enlighten the readers about the actual scenario prevailing in the Payments Landscape in Japan.

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Payments Landscape in Japan: Opportunities and Risks to 2022

Summary
GlobalDatas "Payments Landscape in Japan: Opportunities and Risks to 2022", report provides detailed analysis of market trends in the Japanese cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, credit transfers, cards, and cheques during the review-period (2013-17e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2018e-22f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalDatas research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

This report provides top-level market analysis, information and insights into the Japanese cards and payments industry, including - 
- Current and forecast values for each market in the Japanese cards and payments industry, including debit and credit cards.
- Detailed insights into payment instruments including cash, credit transfers, cheques, and cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Japanese cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

Scope
- To reduce dependence on cash, in April 2018 the Ministry of Economy, Trade and Industry (METI) released the Cashless Vision document, with recommendations to achieve at least a 40% cashless payment ratio by 2025. In this regard, the Cashless Promotion Association was established in July 2018, which aims to promote electronics payments in the country through various initiatives including the standardization of QR-code payments, raising awareness of electronic payments among individuals and businesses, promotion of cashless payments at self service kiosks, and the development and maintenance of cashless statistics.
- Due to rising demand among consumers and businesses in Japan, a new extension to the current Zengin System was made available in 2018, to allow after-hours faster payment transaction capability. Instant transfers are now possible 24/7 at the majority of financial institutions across Japan. Over 70% of Japanese banks have enrolled to use the new payment system. Unlike the earlier system, which allowed same-day money transfers in a specified time on weekdays, the new system now enables bank transfers throughout the day, including Saturdays and Sundays.
- To benefit from the growing preference for alternative payments, banks and payment service providers are launching new payment solutions, particularly QR-based solutions. In October 2018, the mobile payment solution PayPay was launched by the India-based payments firm Paytm, in a joint venture with SoftBank and Yahoo Japan. This solution enables users to make QR-based payments at merchant stores using their mobile phone. Previously, in September 2018, Amazon also launched its payments solution Amazon Pay in Japan, which enables users to make online payments using the stored payment card details, as well as QR-based in-store payments. In March 2019, Mizuho Bank launched the payment solution J-Coin Pay in cooperation with 60 other financial institutions; this solution enables users to make fund transfers and payments directly from their bank accounts.

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Table of Contents
Card-based Payments
E-commerce Payments
Alternative Payments
Payment Innovations
Payments Infrastructure & Regulation
Appendix

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