Apple's fight to lure Japanese from cash starts at the turnstile
It could boost iPhone sales by fostering growth in e-money usage through Apple Pay
Thu, Sep 01, 2016 - 5:50 AM
Cash is still used for most retail transactions because ATMs are ubiquitous and people are comfortable carrying large amounts of money due to Japan's reputation for low crime, said an analyst. He questions whether Japanese will switch to e-money on a large scale when they're happy with the status quo.
APPLE Inc's plan to allow Japanese customers to use iPhones to pay for their daily commute underscores the potential for digital payments to grow in a nation where people still prefer to hold cash.
Japanese have for years been using rail passes that double as electronic money...