DOCSLIB.ORG

Digital Payment Trend in Japan

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Digital Payment Trend in Japan Digital Payment Trend in Japan May 15, 2016 Next Generation IC Card System Study Group Japan Cashless Settlement Ratio (2015) Japan 18% Korea 54% China 55% USA 41% 0% 20% 40% 60% Source: METI “FinTech Vision” Agenda 1. Settlement Overview 2. Credit Card 3. Debit Card 4. Transport IC Card and Payment 5. Contactless e-money Payment 6. NFC Mobile Payment 7. House Prepaid Card 8. Other Topics 9. Cash 2 1. Settlement Overview Share of Personal Consumption by Settlement Method Japan (2015) USA (2014) CSP*, Prepaid Pay-easy, 3.5% etc., 4.1% 5.2% (＋1.0p) Check, 10.4% Cash, 16.7% Bank transfer/ Bank Direct debit, transfer/ 19.9% Cash, Direct debit, (▲0.8p) 49.5% 14.6% (▲2.4p) Credit card, Prepaid 29.6% e-money, 5.6% Debit card, (＋0.9p) Credit card, 24.5% 16.0% Debit card, ＋ 0.2% ( 1.1p) * CSP: Convenience Store Payment Source: CREDIT SAISON CO.,LTD. Source: THE NILSON REPORT Credit Saison estimates based on materials published by the Ministry of Economy, Trade and Industry, Nihon Card Business Institute’s New Payment Report, Mitsubishi UFJ Research and Consulting, and other companies and associations. 3 Comparison of settlement amount per transaction (Yen) 50,000 40,000 J-Debit 30,000 All debit card Credit card Brand debit 20,000 e-money 10,000 0 2010 2011 2012 2013 2014 2015 2016 Source: Bank of Japan Ref. ¥10,000 ≒ US$89 ≒ ₩100,600 4 2. Credit Card Trend of credit card shopping vs private final consumption expenditure (trillion yen) 400 18.0% Private final consumption expenditure 17.0% 350 Credit card shopping 17.0% 300 15.7% 16.0% 250 200 15.0% 14.3% 14.1% 150 14.0% 13.3% 100 13.0% 50 0 12.0% 2011 2012 2013 2014 2015 Source: JCA By 2020, all credit payment terminals support IC(EMV) cards But no description about contact/contactless : contactless technology is optional. Tokenization On-us transactions, a major way in Japan, prevent full-fledged tokenization services from spreading. 5 3. Debit Card J-Debit Credit Brand Debit Started in March, 2000 Introduced around 2006 in Japan Promoted by Japan Debit Card Available at the shops accepting credit Promotion Association cards 1077 financial institutes issue the cards VISA Debit : 44million places globally (as of March 21, 2017) JCB Debit： 31million places globally Around 450,000 terminals available Also used for net shopping and cash nationwide withdrawal Cash cards issued by bank can be used Annual fee needed occasionally without prior procedure Senior high-school age and over No annual fee, no age limit Debit card transaction volume (million) 120 J-Debit Brand debit 100 80 60 40 20 0 2010 2011 2012 2013 2014 2015 2016 Source: Japan Debit Card Promotion Association Source: Bank of Japan 6 4. Transport IC Card and Payment Transport IC card situation in Japan Transport operators started implementing IC card ticketing system individually from 2001 Nationwide major ten IC card interoperability completed in March 2013 More than 120 million interoperable IC cards issued (as of Oct. 2016) 4,804 stations / 44,115 buses accept the cards Further nationwide interoperability is ongoing Transport IC card used as e-money payments 379,000 shops accept payment by the cards (as of Feb. 2017) 140 million monthly transactions per month (Max. in Jul 2016) Connected thin-client terminals contribute to the further touch points IC card tickets throughout Japan have become interoperable 7 Contactless e-money Payment e-money payment transaction trend Number of e-money cards and mobile (million times) (trillion yen) (million pcs) 6,000 6.0 350 14% 5,000 5.0 300 12% 250 10% 4,000 4.0 200 8% others 3,000 3.0 150 6% mobile 2,000 2.0 100 4% Percentage of moble 1,000 1.0 50 2% 0 0.0 0 0% 2009 2010 2011 2012 2013 2014 2015 2016 2009 2010 2011 2012 2013 2014 2015 2016 Transactions Transaction Amount Figures cover pre-paid e-money payment using devices in iOS, which contactless IC chip is embedded. 4.9% These are calculated by submitted data from eight e-money iOS, issuers, i.e., electronic money service - "Rakuten Edy", iOS, 25.5% Android public transportation services - "Suica“, "Kitaca“, 44.1% others, "SUGOCA“, “PASMO“, "ICOCA", and services by retail 55.9% companies - "WAON“, and "nanaco". Android Android others, others, The value and volume of transit fare collections are not 95.1% 74.5% included. Source: Bank of Japan Source of the mobile OS share: MM Research Institute 8 6. NFC Mobile Payment Progress of NFC mobile payment in Japan 2002 2005 2007 2012 • Develop NFC • JCB QUICPay • 7&I nanaco • NFC smartphone by Sony & Philips (credit service) (e-money) with FeliCa • NTT DOCOMO iD • AEON WAON (credit service) (e-money) 2004 2006 2010 • FeliCa Mobile • JR East Mobile Suica • FeliCa on Wallet Service (transit) smartphone • Mobile Edy (e-,money) • NFC Forum Source: Sony Corporation 9 NFC Mobile Payment with more globalization Source : FeliCa Networks Inc. Since 2016, Apple Pay and Android PayTM have been also available for use in Japan, by taking advantage of the NFC(Near Field Communication) standard and other international standards. “Apple Pay” payment scheme Payment type Relevant card Payment service In-app payment brand note Transport ticket / Prepaid Suica Suica - e-money payment Aeon, dCARD, Softbank, JCB, MITSUI SUMITOMO, Cedyna, iD Credit card Mastercard, AMEX JP BANK, Life, etc Post pay JCB group, Amex, EPOS, Orico, SAISON, JACSS, Seven, VIEW, QUICPay JCB, Mastercard Credit card MUFG, UCS, RAKUTEN, etc 10 7. House Prepaid Card Forecast of prepaid settlement market in Japan (tiillion yen) 14,000 Others Contactless e-money House prepaid Brand prepaid 12,000 10,000 House 1.9 trill yen 8,000 House 1.1 trill yen 6,000 4,000 2,000 0 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 (Forecast) (Forecast) (Forecast) (Forecast) (Forecast) (Forecast) Source: YANO Research “Prepaid Settlement Market 2016” The prepaid settlement market in FY2021 expands to 13 trillion yen House prepaid settlement will reach 1.9 trillion yen in FY2021 Three major solution providers are developing the house prepaid market 11 8. Other Topics Various payment method Barcode payment Convenience store franchise Lawson started accepting Alipay in January 2017 at its around 13,000 stores. Lawson also introduced another barcode type payment called LINE Pay. Bluetooth payment Origami Pay is making use of “iBeacon” Bluetooth technology for its payment, available at some shops and taxi. Virtual currency Bitcoin Around 5,000 shops accept Bitcoin payment in Japan as of April 2017. A large electronic appliance store BIC CAMERA recently introduced Bitcoin payment at its two stores firstly in order to appeal inbound tourists. The Act on Financial Settlement revised on April 1st has positive impacts on the spread of Bitcoin payment. “MUFG Coin” by a Japanese mega bank Mitsubishi UFJ Financial Group Inc. is planning to introduce its own virtual currency by March 2018. 12 9. Cash Number of coin production (2007-2016) (million pcs) 700 600 500 ¥500 ¥100 400 ¥50 300 ¥10 ¥5 200 ¥1 100 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Consumption tax rate has Source: Japan MINT risen from 5% to 8% Demand for small coins - ¥1 and ¥5 - are decreasing these days due to the spread of digital payments. After the consumption tax rate rose from 5% to 8% in 2014, small coins have been used less than expected after all. 13 Q&A / Discussion 14 .
Load more

Recommended publications
  • 2014 Annual Report
    For the year ended March 31, 2014 Annual Report 2014 FAITH IN THE POSSIBILITIES FAITH Annual Report 2014 East Japan Railway Company INTERCONNECTED Value Our Businesses AN OVERWHELMINGLY SOLID AND ADVANTAGEOUS RAILWAY NETWORK The railway business of the JR East Group covers the eastern half of PROPORTION OF TRANSPORT CARRIED BY DIFFERENT MEANS OF TRANSPORT IN Honshu island (Japan’s main island), which includes the Tokyo metropoli- ToKYO URBAN AREA tan area. We provide transportation services via our Shinkansen network, 23 4 25 2 13 34 which connects Tokyo with regional cities in five directions, as well as 1978 conventional lines in the Kanto area and other networks. Our networks 25 3 28 3 15 27 combine to cover 7,474.2 kilometers and serve 17 million people daily. 1988 We are the largest railway company in Japan and one of the largest in the world. 25 2 33 2 15 22 1998 The Tokyo metropolitan area, where we are based, has seen a dra- matic increase in railway convenience in recent years. Consequently the 30 3 29 2 14 22 share of railways in the transportation mix is rising even higher. In fiscal 2008 2015, JR East will spare no effort in preparing for the opening of the Hokuriku Shinkansen Line to Kanazawa and the Ueno–Tokyo Line. The 0 100 % Train Bus Car Motorcycle Bicycle Foot added convenience from the lines opening will then be leveraged to the • The 5th Tokyo urban area person trip survey, Tokyo urban area traffic plan meeting, Nov. 2009. hilt by JR East to maximize railway usage.
    [Show full text]
  • NTT Docomo's Success in Creating Mobile Contactless Payments Ecosystem
    NTT DoCoMo’s Success in Creating Mobile Contactless Payments Ecosystem Master’s Thesis within Business Administration Author: Shasha Yuan 880414-5988 Lu Miao 870307-3729 Tutor: Lucia Naldi Jönköping May 2012 Acknowledgements First, we would like to express sincere thanks to our supervisor Ms. Lucia Naldi from Jönköping International Business School (JIBS) for her critical and professional suggestions and great help to our thesis from the beginning to the end. She is an elegant lady always with beautiful smiles. Thanks also to our interviewees who shared their knowledge and experiences with us. From the interviews with them, we gained much more information than we expected. Without them, we could not have completed this thesis. Finally, we dedicate this thesis to our family whose love and support have always been encouraging us to overcome the difficulty. Shasha Yuan, Lu Miao Jönköping May 2012 i Master Thesis within Business Administration Title: NTT DoCoMo’s Success in Creating Mobile Contactless Payments Ecosystem Authors: Shasha Yuan, Lu Miao Tutor: Lucia Naldi Place and Date: Jönköping, May 2012 Keywords: Mobile Contactless Payments (MCPs), Ecosystem, Japan, NTT DoCoMo, Osaifu-Keitai Abstract Background: Recently mobile contactless payments (MCPs) have become a hot topic around the world. However, most countries are still going through their early stages or market chaos and nowhere near successful worldwide. This is mainly because MCPs have complicated business networks involving many participants from multiple industries and the business ecosystem creation is required for the development of MCPs. So far, only a few cases have realized a healthy ecosystem and a relatively widely- adopted market, of which the most successful is NTT DoCoMo, Japan’s telecom giant that acts a central role in developing MCPs in the Japanese market.
    [Show full text]
  • Explanations of Terms(PDF:172KB)
    Ⅱ Explanations of Terms (Items Related to Information and Communication Technology) Total households The sum of two-or-more-person households plus Electronic money one-person households. In this survey, the definition of electronic money is currency value stored in media, like the following example. Utilization of the Internet for this month e.g.) Edy, Suica, ICOCA, PASMO, nanaco, (survey month) WAON, “Osaifu Keitai”, WebMoney, Includes use of any equipment that can be BitCash, QuoCard connected to the Internet, even equipments Payment with Debit cards and Deferred that are outside the home, such as in a library payment with Credit cards, etc. are excluded or a Internet cafe. from use of electronic money. Moreover, prepaid card such as “common bus card” that can purchase only specific goods and services Equipments with the function of viewing are not included in electronic money in this terrestrial digital broadcasts survey. Video recorder (with built-in terrestrial digital broadcast tuner) DVD recorder,Blu-ray Disc recorder,hard disc recorder and so on with built-in terrestrial digital broadcast tuner. Reward cards In this survey, “reward cards” is the media Personal computer (with built-in terrestrial which process points as electronic data like digital broadcast tuner) or terrestrial digital magnetic media, etc. broadcast tuner for personal computer Cards such as paper cards which points are The case of viewing terrestrial digital added by stamp are not included in reward broadcasts by personal computer (with built-in cards in this survey. terrestrial digital broadcast tuner) or terrestrial digital broadcast tuner for personal computer. Exclude terrestrial digital broadcast tuner only for One seg.
    [Show full text]
  • [PDF]Integrated Report 2019
    SEVEN BANK, LTD. Integrated Report For the year ended March 31, 2019 https://www.sevenbank.co.jp/english/ir/ Copyright © 2019 Seven Bank, Ltd. All rights reserved Seven Bank continues to “cultivate.” “If there was an ATM at Seven-Eleven, it would be more convenient …” In response to such comments from customers, Seven Bank was established and has created ATM services that can be accessed “anytime, anywhere, by anyone, and with safety and security.” Currently, due to the spread of smartphones, diversification of payment methods, changes in lifestyles and other factors, our business environment is undergoing radical change. It is hard to predict what kind of future awaits us in years or decades to come. We aim to respond flexibly to such changes in society and diversifying customer needs by continuing to change with the times. We will continue to provide new kinds of convenience that society requires, for use by anyone, with safety and security. Together with the times Together with you 1 2 By addressing five “material issues,” close to people’s lives we will grow together with society. ForFor a safe,safe, secure For new value inin SoSo that everyoneeveryone can live ToTo create a societysociety ToTo live with mutual societysociety … dailydaily liveslives … fairlyfairly and eequallyqually … thatthat considersconsiders the acceptanceacceptance of environmentenvironment … otherother culturescultures … Five “material issues” 1 2 3 4 5 Offer a safe, Create a Create a society Reduce the Realize secure settlement lifestyle through where everyone environmental multicultural SDGs new financial The UN Sustainable Development Summit was infrastructure can be active burden symbiosis held at the headquarters of the United Nations in services September 2015.
    [Show full text]
  • Filed in June 2008
    As filed with the Securities and Exchange Commission on June 26, 2008 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR (G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2008 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report Commission file number: 1-31221 Kabushiki Kaisha NTT DoCoMo (Exact name of registrant as specified in its charter) NTT DoCoMo, Inc. (Translation of registrant’s name into English) Sanno Park Tower 11-1, Nagata-cho 2-chome Chiyoda-ku, Tokyo 100-6150 Japan Japan (Jurisdiction of incorporation or organization) (Address of principal executive offices) Hiromichi Takahashi or Atsuko Shiono TEL: +81-3-5156-1338 / FAX: +81-5156-0271 Sanno Park Tower, 2-11-1 Nagata-cho, Chiyoda-ku, Tokyo 100-6150 Japan (Name, Telephone, E-mail and /or Facsimile number and Address of Company Contact Person) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock New York Stock Exchange Securities registered or to be registered pursuant to Section 12(g) of the Act: None (Title of Class) Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.
    [Show full text]
  • Financial Literacy and Fintech Adoption in Japan
    ADBI Working Paper Series FINANCIAL LITERACY AND FINTECH ADOPTION IN JAPAN Naoyuki Yoshino, Peter J. Morgan, and Trinh Q. Long No. 1095 March 2020 Asian Development Bank Institute Naoyuki Yoshino is dean and chief executive officer of the Asian Development Bank (ADBI). Peter J. Morgan is vice chair of the Research Department at ADBI. Trinh Q. Long is a project consultant at ADBI. The views expressed in this paper are the views of the author and do not necessarily reflect the views or policies of ADBI, ADB, its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms. Working papers are subject to formal revision and correction before they are finalized and considered published. The Working Paper series is a continuation of the formerly named Discussion Paper series; the numbering of the papers continued without interruption or change. ADBI’s working papers reflect initial ideas on a topic and are posted online for discussion. Some working papers may develop into other forms of publication. Suggested citation: Yoshino, N., P. J. Morgan, and T. Q. Long. 2020. Financial Literacy and Fintech Adoption in Japan. ADBI Working Paper 1095. Tokyo: Asian Development Bank Institute. Available: https://www.adb.org/publications/financial-literacy-fintech-adoption-japan Please contact the authors for information about this paper. Email: [email protected] Asian Development Bank Institute Kasumigaseki Building, 8th Floor 3-2-5 Kasumigaseki, Chiyoda-ku Tokyo 100-6008, Japan Tel: +81-3-3593-5500 Fax: +81-3-3593-5571 URL: www.adbi.org E-mail: [email protected] © 2020 Asian Development Bank Institute ADBI Working Paper 1095 Yoshino, Morgan, and Long Abstract Rapid developments in financial technology (fintech) are expected to contribute to improvements in financial inclusion and well-being.
    [Show full text]
  • (Itami) Airport? Due to Its Convenience, We R
    Major items Q A Due to its convenience, we recommend using the Airport Limousine Bus. Just next to the south entrance of Hotel new Hankyu Osaka is the bus terminal for the airport limousine bus. How do I access from Kansai The bus service to Kansai International Airport and Osaka (Itami) Airport runs every 20 to 30 International Airport and Osaka minutes. (Itami) Airport? Kansai International Airport - Bus Stop No. 5 Osaka (Itami) Airport - North Terminal No. 4 and South Terminal No. 14 It is about 60 minutes to Kansai International Airport, and about 40 minutes to Osaka (Itami) Access Airport. A bus service from the bus terminal near the hotel to Kansai International Airport is How long does the airport limousine available every hour from 3:00 a.m. to 9:00 p.m., and to Osaka (Itami) Airport from 6:00 a.m. bus service take from the hotel? to 7:00 p.m. The bus service from the Kansai International Airport is available every hour around the clock, and from Osaka (Itami) Airport from 7:00 a.m. to 9:00 p.m. JR Osaka Station (5-minute walk), Umeda Station on the Hankyu Railway (3-minute walk), Where is the nearest station? and Umeda Station on the Midosuji Line Subway (5-minute walk) . Check-in is from 3:00 p.m. and check-out is at 12:00 noon. Check-in, and check- What are your check-in and check- Please inquire at the reception for early check-in or late check-out. out out times? Pｌease understand that we may not be able to accommodate your request depending on room availability and reservation conditions.
    [Show full text]
  • Small Payment Business in Japan
    Small Payment Business in Japan 2009 February 10 Nomura Research Institute, Ltd. Consulting Sector Financial Business Consulting Department Hiromichi Yasuoka (Senior Consultant) 〒 100-0005 Marunouchi Kitaguchi Building, 1-6-5 Marunouchi, Chiyoda-ku, Tokyo 100-0005, Japan Contents Preface Overview of the small payment market Small payments: Legal system and issues Small payment businesses using "Osaifu-keitai" Future potential (globalization, use of OpenID) Summary Copyright（C） 2009 Nomura Research Institute, Ltd. All rights reserved. 1 Preface E-money has achieved widespread use in the Japanese small payment market. There are particular merits for enterprises that combine small payment services with their core businesses. Credit cards are an instrument of settling large payments, while e-money is used to settle small payments. While it is difficult for enterprises to earn profits just from e-money services, enterprises that already have large customer bases may see benefits from combining e-money services with their core businesses. Difficult for e-money to earn profits on its own Primary instruments by payment amount Average usage value is only about 700 to 750 yen per Overview of Amount of Money transaction, requiring extremely large transaction volumes in order to earn profits just on commissions e-money usage and Expenditures are large: systems operations, assistance market to merchants installing terminals, call center operations (P. 3-6) Large Credit card etc. About 5,000 Yen Potential benefits from combination with core business Middle Cash Common: Access to detailed customer behavior data E-money About 1,000 Yen Railways: Ticket gate maintenance cost savings benefits and Retail: Shorter checkout times because cash is not used partnerships E-money (P.
    [Show full text]
  • Annual Report 2015
    Thriving with Communities, Growing Globally Annual Report 2015 For the year ended March 31, 2015 Group Philosophy The JR East Group aims to contribute to the growth and prosperity of the East Japan area by providing quality leading-edge services, with train station and railway businesses at its core, to customers and communities. We will continue to embrace the challenge of pursuing “extreme safety levels” and service quality reforms. Through technological innovation and globalization, we will strive to attain goals such as nurturing personnel with an expansive perspective, spurring the advancement of railways, and making line-side areas more attractive and convenient. To this end, JR East will continue to rigorously pursue its unlimited potential. We aim to grow continuously while meeting our social responsibilities as a Trusted Life-Style Service Creating Group. Contents 2 Profi le 4 Our Calling 6 Financial Highlights 8 Selected Financial Data 10 A Message from the Management 12 Interview with the President 24 JR East Group Management Vision V—Ever Onward 26 Feature: Launching “Medium-term Vision for Service Quality Reforms 2017” 3030 Review of Operations 30 JR East at a Glance 32 Transportation > Tokyo Metropolitan Area Network 34 Transportation > Intercity Network Centered on Shinkansen 36 Transportation > Railcar Manufacturing Operations 37 Transportation > Overseas Railway Business 38 Non-Transportation > Station Space Utilization || 40 Non-Transportation > Shopping Centers & Offi ce Buildings Further Information about JR East 42 Others
    [Show full text]
  • Corporate Outline 2019 All Download
    Seven & i Holdings CORPORATE OUTLINE 2019 CORPORATE OUTLINE 2019 Seven & i Holdings Co., Ltd. Corporate Creed We aim to be a sincere company that our customers trust. We aim to be a sincere company that our business partners, shareholders and local communities trust. We aim to be a sincere company that our employees trust. Corporate Outline 2019 The Company aims to be a sincere company in line with its corporate creed, earning the trust of all stakeholders, including customers, business partners and franchisees, shareholders and investors, local communities, and employees. Guided by our Group slogan of“Responding to Change while Strengthening Fundamentals,” we conduct open and honest dialogue with our customers to stay in tune with their constantly changing needs. Learning about these needs yields opportunities to create and evolve new retail services in response to changes in the times. In May 2016, the Group launched a new management framework. We believe that the core concept of corporate governance is to create“a system for being a sincere company trusted by all stakeholders,” and that this is in line with our corporate creed. We will redouble our efforts to improve and expand our corporate governance, based on the philosophy of our founder. In the same way that we foster opportunities for creating services through dialogue with our customers, we believe that expanding dialogue with all of our stakeholders, including business partners and franchisees, shareholders and investors, local communities, and employees, will yield opportunities for increasing corporate value. This Corporate Outline is designed to communicate an overview of our Group’s business in a clear manner to enable better understanding.
    [Show full text]
  • Cases of Franchising Chains and Co-Operative Federations
    Governance Problems in Networks: Cases of Franchising Chains and Co-operative Federations Akira Kurimoto1 Abstract A variety of inter-organizational networks have emerged between hierarchy and market. They are either internal networks in the same industries such as franchising and co-operatives, or external networks among organizations operating in the supply chain such as alliances. In the distributive trade, a strong tendency towards hierarchal corporate chains is observed in many places but there still exist successful franchise chains and co-operative federations (consortiums). These networks are not necessarily regulated by the top-down authority and require specific coordination mechanism to solve inherent governance problems. This paper describes how networks work in the Japanese retail chains and examines governance problems. Keywords Inter-organizational structure, alliance, franchise, consortium, governance. Introduction Inter-organizational networks are intensively studied from various perspectives. They involve a variety of relations in terms of power, communication, structure, culture and so on. There is also the tendency towards tighter inter-organizational structure from mutual adjustment and alliance to hierarchy irrespective of organizational forms. In the grocery distribution industry, economically weaker actors such as consumers and small retailers chose the organizational forms of co-operatives or franchises in order to accomplish economy of scale and cope with the market power of large-scale corporate chains and manufacturers. Consumer co-ops have been set up by consumers and become federated to consolidate the buying power in many countries. In Europe the major form of pooling the buying power of retailers has been retailer co-operatives while in Japan the dominant form of networks adopted by small businesses has been 1 Akira Kurimoto is the Director, Consumer Co-operative Institute of Japan.
    [Show full text]
  • Developments in Electronic Money in Japan During Fiscal 2008
    August 2009 Developments in Electronic Money in Japan during Fiscal 2008 Payment and Settlement Systems Department Bank of Japan Please contact below in advance to request permission when reproducing or copying the content of this report for commercial purposes. Payment and Settlement Systems Department, Bank of Japan P.O. Box 30, Nihonbashi, Tokyo 103-8660, Japan Facsimile: +81-3-5255-6752 E-mail: [email protected] Please credit the source when reproducing or copying the content of this report. Developments in Electronic Money in Japan during Fiscal 2008 Payment and Settlement Systems Department Bank of Japan August 2009 Abstract The Bank of Japan has collected data on the use of electronic money for fiscal 2008 (April 2008-March 2009), as it did for fiscal 2007. The volume and value of transactions settled using electronic money continued to increase even after fiscal 2007, which is often referred to as the "year of the tipping point" for electronic money services in Japan. The total number of cards with electronic money functionality exceeded 100 million in January 2009. The venues for making payments with major brands of electronic money have been expanding nationwide. These developments suggest that electronic money is gradually strengthening its position as a retail payment instrument with the potential of further growth in the future. The value of electronic money outstanding, however, remained considerably smaller than the value of cash in circulation or of money stock as a whole. Electronic money services do not yet seem to have had a large impact on the overall payment system or the financial system.
    [Show full text]