Will QR code payment be the key to push cashless forward in Japan?
In December 2018, PayPay – a QR code payment app established by Softbank and Yahoo! Japan, launched a cashback campaign estimated at USD 100 million in Japan. This resulted in extensive news coverage and mirrored the explosive popularity of QR code payment in China over the past few years. In fact, 60% of the payment in China was done cashless in 2015, while it was only 18.4% in Japan.