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Finance

Japan looks to double cashless payments in 10 years

Push aimed at accommodating foreigners, encouraging spending

The government aims to broaden the acceptance of mobile and other cashless payments.

TOKYO -- Cash-heavy Japan aims to double digital payments to 40% in the next decade by helping metropolitan-area businesses afford cashless services to better attract foreign visitors and open their wallets.

The goal, set by the Financial Services Agency and the industry ministry, will be part of a plan to promote fintech, the intersection of finance and information technology, in a growth strategy to be compiled in June. The move is also a step toward better accommodating foreign tourists, with an eye toward the 2020 Tokyo Olympics.

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