April 5, 2023

The Japanese Government Will Make the Osaka-Kansai Japan Expo Held in 2025 an All-Cashless Means of Payment

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Twenty-eight million people will visit the Expo. Cash payment will not be available at the venue of Osaka-Kansai Japan Expo, only credit cards, transportation IC cards, and QR codes. It also offers a unique payment application using blockchain (distributed ledger) technology. It is the first time in the world that Osaka-Kansai Japan Expo will introduce an entirely cashless payment system at an Expo.

They will consider selling prepaid cards to those who don't have smartphones or cashless payment methods, such as students and older people. The Japan Association for the 2025 World Exposition will manage the Osaka-Kansai Expo and open on April 13, 2025. One hundred fifty-three countries/regions (excluding Japan) and eight international organizations have announced their participation. The Expo will draw 28 million visitors through October 13, making conducting a large-scale demonstration experiment possible.

The cashier saves time and eliminates the need to prepare change by going cashless. More than 60 businesses will participate, including international credit card brands, transportation system IC, and QR code payments. Operators from China, Korea, Thailand, the Philippines, Singapore, Malaysia, and India will also participate.

An "Expo Digital Wallet," a unique smartphone application for the Osaka-Kansai Japan Expo, will also be introduced. The plan is to charge electronic money from bank accounts or credit cards and allow visitors to use the coins at the venue's stores, meals, and pavilions, where one currency = 1 yen. The goal is to create an application used daily before and after the Expo.

The unique payment application uses blockchain technology in the next-generation Internet Web3. The plan is to award points based on the use of the application, which can exchange for tickets to special events and prizes.

The government has set a goal of increasing Japan's cashless payment ratio from the current 30% to around 40% by 2025. The Ministry of Economy, Trade and Industry (METI) has set a study group to achieve the target. According to a report compiled in March of this year, those who feel they can live without "cash" are in the minority, with 70% carrying cash even among those who actively use cashless payments.

The intention is to use the Osaka-Kansai Japan Expo, which is attracting global attention, as a catalyst for the promotion of cashless payments.