Top Mobile Payment Service Providers in Japan 2020 and their Reaction to the COVID-19 Crisis
COVID-19 has accelerated growth in the mobile payments market in Japan
Growth in the use of mobile payment services observed in Japan during the pandemic
Since the outbreak of the COVID-19 pandemic, consumers have increased the use of mobile and contactless payment methods in Japan. According to the recent yStats.com publication, the number of consumers making mobile phone payments at least once a week increased in May 2020 compared to the final month of 2019. Moreover, contactless payment with a mobile device was a popular transaction method even before the health crisis hit the country.
Mobile payment services in Japan establish new partnerships to introduce payment support programs, amidst the COVID-19 outbreak
Other interesting facts highlighted in the yStats.com report include the most used QR code mobile payment services in Japan: PayPay, Rakuten Pay and Line Pay. This report also highlights the features introduced by these mobile apps to support their users to facilitate social distancing and touchless payments. For example, Line Pay partnered with Tokyo Gas to make the payment procedure paperless. Moreover, Rakuten Pay partnered with various food and other businesses to introduce contactless and more convenient payments during the pandemic.
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