Japan: most common reasons for using cash 2024 | Statista (2024)

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Japan: most common reasons for using cash 2024 | Statista? ›

Most common reasons for paying with cash in Japan 2024

Even though Japan is technologically among the top countries in the world, cash is still the primary payment method. Statistics show that over 60 percent of all payments are made in cash. It's thought to be a more reliable and secure option, without the danger of personal information leakage.

You'll need to have some cash in Japan, so you can exchange in advance or make an ATM withdrawal on arrival at the airport. Using an ATM can also be cheaper than advance exchange, particularly if you have a travel card from a provider like Wise or Revolut.

Though use of credit cards and e-currency has increased in recent years, Japan is still largely a cash-based society. The national currency of Japan is the Japanese Yen (¥). It's best to get some cash converted before you leave home so you have change handy to catch the train to your destination once you arrive.

Credit cards are Japan's most widely used form of cashless payments, accounting for 30.4 percent of 2022's private final consumption expenditure. Surprisingly, despite the reluctance among the older demographic toward cashless payment options, surveys indicate that 90 percent of consumers in their 60s use credit cards.

Japanese consumers have long held a preference for cash, which is considered a safe and reliable payment method. When it comes to digital payments, many are concerned about the potential leakage of their private information and overspending.

In 2023, cashless payments accounted for around 39.3 percent of the private final consumption expenditure in Japan. The cashless payment ratio increased by 3.3 percentage points year on year.

1 JPY = 0.006371 USD May 25, 2024 09:07 UTC

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Cash in the form of coins and notes can be incredibly useful when travelling around Japan, especially in more rural areas. While major cities like Tokyo and Osaka accept foreign cards, most establishments around Japan (including accommodations, restaurants, and shopping centres) prefer cash.

Banknotes of three denominations 10,000 yen, 5,000 yen, and 1,000 yen will be issued on July 3, 2024. The new banknotes are the culmination of anti-counterfeit technologies cultivated for over 150 years. Please take this opportunity to discover the secrets of the new banknotes.

What is the cash etiquette in Japan? ›

In Japan, money is rarely passed directly from hand to hand. This means that when you purchase an item or service, you won't hand money directly to the cashier. Instead, you'll place your payment (whether cash or credit) on the small tray provided. If change is due, your change will be placed here for you as well.

In Japan, there are still many places where cash is required, however, in recent years, cashless shopping has become increasingly common.

The currency of Japan is the yen. Cash still plays a major role in Tokyo, although more places accept credit cards now. Travel IC cards such as Suica and PASMO are also common forms of cashless payment.

Credit, debit and prepaid cards of international brands are generally accepted throughout the country. There will be instances where stores may not display the symbols of the cards they accept, so ask the salesperson if you can use your card.

When going up to a restaurants or other stores register counter, there's always a cash tray ("carton" in Japanese) placed for you. But what exactly is this cash tray? This is a place to put your cash to pay without having to directly touch the other person and causing any awkward atmosphere.

Introduced in 1871, the Japanese yen (Japanese: 円), or JPY, is the official currency of Japan. The symbol of the yen is ¥, along with JP¥, which is sometimes used to separate the Japanese yen from the Chinese yuan renminbi, which shares the same symbol.