Japan E-commerce Payment Market Report 2023: Market to Grow to $256.90 Bn by 2028 from $140.37 Bn in 2022 – QR Codes and Mobile Payments Power Japan’s Booming E-Commerce Landscape


The “Japan E-commerce Payment Market, Size, Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis” report has been added to  ResearchAndMarkets.com’s offering.

Japan E-Commerce Payment Market is projected to grow to US$ 256.90 Billion by 2028 from US$ 140.37 Billion in 2022, growing at a CAGR of 10.60% from 2022-2028

Japan boasts one of the world’s largest and most advanced e-commerce markets. As the fourth-largest e-commerce market globally, Japan has experienced rapid adoption of mobile payments, leading to billions of dollars in transactions. Mobile payments in Japan primarily rely on technologies like NFC and QR codes. Younger, tech-savvy generations find it particularly convenient to use their smartphones for payments, either through dedicated payment apps or by scanning QR codes.

Popular QR code payment brands in Japan, such as PayPay, Line Pay, and MerPay, are actively leveraging rewards and incentives to enhance customer loyalty and satisfaction. This approach aligns with the growing trend of mobile shopping in the country, which has seen significant growth in the e-commerce payment industry.

However, it’s worth noting that while Japan is known for its technological advancements, the adoption of mobile commerce payments remains relatively low due to the continued use of desktops and a significant aging population that may be less inclined to embrace smartphones.

The government’s “Cashless Vision” initiative aims to boost cashless settlements from 18.4% to 40% by 2025. To achieve this goal, the government is encouraging credit card companies to adopt APIs (Application Programming Interfaces), responding to the demand for secure and convenient fintech services. The promotion of API integration is expected to accelerate the adoption of cashless payments and drive digital transformation within the financial services sector.

The Japanese e-commerce industry is currently experiencing rapid growth, accompanied by the emergence of key consumer trends. Three notable trends shaping this landscape are sustainability, omni-channel shopping, and ID payments. E-commerce companies are recognizing the significance of these trends and adjusting their strategies to cater to evolving consumer preferences.

ID payments, in particular, offer customers secure and convenient payment options while enabling a more personalized shopping experience. As these trends continue to influence the Japanese e-commerce sector, companies that prioritize sustainability, seamless shopping experiences, and secure payment methods are likely to thrive in this evolving landscape.

In Japan e-commerce payment industry, media products hold the largest market share

The payment market for media products in Japan is currently the most significant, reflecting the country’s strong inclination towards digital media consumption.

Japan has a tech-savvy population that highly values digital content, and as a result, Japanese consumers are actively using a variety of payment methods to access and purchase media products such as streaming services, e-books, and digital downloads. This dominance underscores the changing landscape of media consumption in Japan and the increasing demand for convenient and secure payment solutions in the market.

On the other hand, the apparel and footwear segment has emerged as the fastest-growing sector in Japan’s e-commerce payment industry. With the significant rise in online shopping and shifting consumer preferences, there has been a substantial increase in the demand for convenient and secure payment methods for purchasing apparel and footwear.

E-commerce platforms and retailers are making efforts to enhance the payment experience by offering seamless transactions and implementing innovative payment solutions to cater to this growing trend. The rapid growth in the apparel and footwear sector highlights its importance within Japan’s evolving e-commerce landscape.

Credit card payments are the dominant force in Japan e-commerce payment industry, holding the majority of the market
Japan mobile payment sector is experiencing rapid growth, making it the fastest-growing segment in the country’s e-commerce payment industry. With the widespread use of smartphones and the convenience they offer, Japanese consumers are increasingly embracing mobile payment methods for their online transactions.
In a move to address the challenges faced by foreign workers in Japan and promote market expansion and deregulation, the Japanese government is planning to implement a digital salary payment system by spring 2023. This system enables companies to transfer salaries directly to workers using smartphone payment apps, bypassing the need for traditional bank accounts.

By promoting this initiative, the government aims to facilitate financial inclusivity, enhance convenience, and stimulate economic growth in the country. This trend is driven by the ease of use, enhanced security measures, and seamless integration with various e-commerce platforms. As mobile payment technologies continue to advance, their popularity and adoption are expected to further propel the growth of Japan’s e-commerce payment industry.

Credit cards offer convenience, security, and widespread acceptance, making them a preferred choice for online transactions. With well-established credit card networks and a culture of credit card usage, Japanese consumers rely on this payment method for their e-commerce purchases. While alternative payment methods are growing, credit cards continue to maintain their stronghold as the primary mode of payment in Japan’s e-commerce landscape.

Key Company

The Japan e-commerce payment market is dominated by major players such as Rakuten Group, Suica, PayPay, Origami, merPay, and D-barai.

These companies play a significant role in shaping the landscape of e-commerce payments in Japan. With their innovative payment solutions and strong market presence, they cater to the diverse payment needs of consumers and businesses alike.

The competition among these key players fosters technological advancements, improved user experiences, and a wide range of payment options, contributing to the overall growth and development of the e-commerce payment market in Japan.

Company Analysis: Overview, Recent Development, SWOT Analysis

  • Rakuten Group
  • Suica
  • PayPal
  • Origami
  • merPay

Payment Method – Japan Ecommerce Payment Market has been covered from 6 viewpoints:

  • Credit Card
  • Convenience Store Payment
  • Direct Carrier (Billing)
  • Mobile Payment
  • Cash on Delivery
  • Other

Segment – Japan e-commerce Market has been covered from 14 viewpoints:

  • Media Products
  • Apparel and Footwear
  • Food and Drink
  • Personal Accessories and Eyewear
  • Consumer Electronics
  • Beauty and Personal Care
  • Home wares and Home Furnishings
  • Consumer Appliances
  • Consumer Health
  • Traditional Toys and Games
  • Pet Care
  • Home Improvement and Gardening
  • Video Games Hardware
  • Home Care

For more information about this report visit https://www.researchandmarkets.com/r/vi18z8


Contactless Payment Market to be Worth $164.15 Billion by 2030: Grand View Research, Inc.


The global contactless payment market size is expected to reach USD 164.15 billion by 2030, registering a CAGR of 19.1% during the forecast period, according to a new study conducted by Grand View Research, Inc. Growing adoption of new payment technologies, such as Host-based Card Emulation (HCE) and Near Field Communication (NFC) for the contactless payments, is anticipated to drive the market growth. Furthermore, a significant increase in digitalization and e-commerce platforms across the globe is boosting the growth of the contactless payment market.

Key Industry Insights & Findings from the report:

  • The smartphone based payments segment is expected to witness rapid growth during the forecast period. Growing adoption of digital wallets for making contactless payments worldwide is expected to drive the growth of the segment.
  • Retail segment dominated the market in 2021. Adoption of the new payment technologies by the retailers in order to increase revenue and reduce transaction time is expected to propel the growth of the segment.
  • North America dominated the regional market in 2021. Growing demand for contactless payments across the region is expected to play an important role in driving the growth of the regional market.

Read 140-page market research report, “Contactless Payment Market Size, Share & Trends Analysis Report By Type (Smartphone Based Payments, Card Based Payments) By Application (Retail, Transportation, Healthcare, Hospitality), By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.

Contactless Payment Market Growth & Trends

Thales Group, in a survey, stated that by 2023, there would be more than 2.6 billion contactless payment cards in circulation, owing to the technology’s rapid adoption in the markets such as South Asia, the U.S., and Brazil. Contactless card transactions are rapidly increasing in early-adopter markets such as the U.K., CanadaEurope, and Australia. For instance, “tap and pay” now accounts for more than 40.0% share of all card transactions in the U.K.

An increasing number of companies in the North American region are focusing on innovative solutions for the e-wallet market. For instance, in January 2022, Rev USA, Inc., a Fintech company, announced the worldwide availability of The X World Wallet, an app-based wallet. The X World Wallet has the capability to easily load to the users existing bank accounts and can be linked to digital or physical Visa cards that can be easily added to the Google, Apple, and Samsung Pay wallets for tap-and-go convenience.

The COVID-19 outbreak played a vital role in driving the growth of the contactless payment market during the forecast period. Contactless payments are in demand among restaurants due to their greater convenience, ordering accuracy, and lack of human contact. Moreover, various digital wallet companies in Canada also experienced significant growth as consumers focused more on digital wallet solutions during COVID-19. For instance, Interac Debit for In-App and In-Browser Payments experienced double-digit growth in Canada since its launch in 2019.

Contactless Payment Market Segmentation

Grand View Research has segmented the global contactless payment market based on the type, application, and region

Type Outlook (Revenue, USD Million, 2017 – 2030)

  • Smartphone Based Payments
  • Card Based Payments
  • Credit Cards
  • Debit Cards
  • Others

Application Outlook (Revenue, USD Million, 2017 – 2030)

  • Retail
  • Consumer Electronics
  • Fashion & Garments
  • Others
  • Transportation
  • Healthcare
  • Hospitality
  • Others

Regional Outlook (Revenue, USD Million, 2017 – 2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa

List of Key Players of Contactless Payment Market

  • Thales
  • Visa Inc.
  • Giesecke & Devrient GmbH
  • MasterCard
  • Apple Inc.
  • PayPal Holdings Inc.
  • American Express Company
  • Amazon.com, Inc.
  • Alibaba.com.
  • Pay U

Check out more related studies published by Grand View Research:

  • Cryptocurrency Payment Apps Market – The global cryptocurrency payment apps market size is expected to reach USD 2.15 billion by 2030, growing at a CAGR of 16.6% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The growing adoption of blockchain technology is anticipated to drive the growth of the market. The increased emphasis cryptocurrency payment app providers are putting on offering enhanced payment solutions also bodes well for the growth of the market.
  • ATM Software Market – The global ATM software market size is anticipated to reach USD 7.50 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 4.5% from 2022 to 2030. The popularity of new ATM software technology in the banking & financial sector has been gaining momentum as the demand for cardless transaction through facial recognition, QR code, and UPI has risen tremendously over the years, acting as one of the key drivers of market growth.
  • Outdoor Payment Terminal Market – The global outdoor payment terminal market size is expected to reach USD 2.9 billion by 2030, according to a new study conducted by Grand View Research, Inc. The market is expected to witness a CAGR of 8.7% from 2022 to 2030. Smartphone-based transactions are one type of payment method frequently used at the Outdoor Payment Terminal (OPT) at the global level. This is because of the rising consumer awareness about the security features such as facial recognition and biometric software offered by smartphone-based payments.

Browse through Grand View Research’s Next Generation Technologies Industry Research Reports.