Cashless payment Asking business operators to announce fees Commission Ministry of Economy, Trade and Industry June 23, 19:01
The Ministry of Economy, Trade and Industry has decided to require operators of cashless payments to announce the fees they will bear. Even after the point-reward system for cashless payments ends at the end of this month, we aim to keep fees low and promote further spread.
The point-reward system for cashless payments for small and medium-sized stores, which started in October last year in line with the increase in the consumption tax rate, will end on the 30th of this month.
Prior to this, the Ministry of Economy, Trade and Industry held a study meeting on the promotion of cashless on the 23rd, and said that it is necessary to keep the payment fee paid by the store side low in order to promote the spread even after the system ends. The guidelines are shown.
Among these, payment companies are required to publish on their website the level of payment fees and the frequency of payments to stores.
Under the current point reward system, the settlement fee is kept at 3.25%, but it is expected that there will be cases where it can be raised from 5% to 7% after the completion.
For this reason, disclosure is aimed at making it possible to compare the fees of each payment operator, thereby promoting competition and reducing fees.
Cashless ratio 26.8%, the highest ever
According to a summary by the Ministry of Economy, Trade and Industry, cashless payments accounted for 26.8% of household spending last year, up 2.7 points from the previous year, the highest ever.
The government has set a goal of increasing this cashless ratio to 40% in 2025.
To achieve this, it will be a big point whether we can reduce the payment fees, which are more expensive than those in the major countries.