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Cashless payments in Japan top one-third of spending

Pandemic precautions spurred shift to contactless purchasing

Cashless purchasing in Japan grew 17% last year to reach 111 trillion yen. (Photo obtained by Nikkei)

TOKYO -- Cashless payments have grown to account for more than one-third of all consumption in Japan, fueled by the demand for touchless purchasing options during the COVID-19 pandemic.

Cashless purchasing reached 111 trillion yen ($838 billion) in 2022, according to data from the Bank of Japan, the Japan Consumer Credit Association and the Payments Japan Association. The 17% annual gain lifted the total above 100 trillion yen for the first time.

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