Japan to Become a Cashless Society?
While waiting in a long queue at a supermarket or shopping mall, shoppers still need to move around carrying a heavy basket full of items. As they struggle to put all together what‘s listed on their shopping list, they also need to prepare some cash for payment. For a mother bringing a child, this can be a real challenge.
This is just one common situation happening in any country. Unlike other countries, Japan wants to act on it. With its recent proposal, the government wants to engage more in using the debit or credit cards as well as electronic money.
Based on a report, this idea have both the positive and negative side. For a country with an aging working population, it can be a huge help. While there is a labour shortage, adapting cashless transactions can save manpower as Japan strives hard to keep its economy going. With the cashless transactions, it’s also an advantage for the government to collect taxes since there’s transparency in the monetary flow.
On the other side, small businesses still prefer cash due to one major reason. The use of a debit and credit card incurs fees, in which will be deducted from their minimal profits.
Consultations and negotiations about this issue might still go a long way. But, the Japanese government only desires what’s best for everyone.