July 24, 2019
With one year to go until theOlympic Games Tokyo 2020, Visa (NYSE: V), the Worldwide Payment Technology Partner of the Olympic Games, is preparing innovative payment experiences for athletes, visitors and citizens in support of the government’s “Cashless Japan” imperative to double the total of payments made digitally to 40 percent1 by 2025. With the Olympic Games Tokyo 2020 expected to be the most innovative Olympic and Paralympic Games yet, Visa is in a unique position to help the Games become a catalyst for delivering the best in digital payments to Japan.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190724005440/en/
One year until the Olympic Games Tokyo 2020! As a Proud Partner for over 33 years, Visa is excited to support our #TeamVisa athletes as they prepare for #Tokyo2020. (Photo: Business Wire)
“There is virtually no other market in the world today that compares to Japan – it is the world’s third largest economy and a leader across many industries, yet commerce remains predominantly cash-based,” said Stephen Karpin, Representative Director & Country Manager of Japan, Visa. “Visa embraces the Olympic Games as an opportunity to offer cutting-edge payment technologies at venues and the Olympic Village, and throughout the host country to truly enhance the fan experience. For Tokyo 2020, we are planning experiences that will leave a lasting impact on the country, with the goal of helping accelerate economic growth, while providing the Japanese community and visitors with a ‘wow’ experience on-the-ground.”
Supporting the Road to a “Cashless Japan”
Today, only about one-fifth of all payments in Japan use digital methods compared with around 90% in South Korea and roughly 60% in the U.S and 70% in China.2 With 40 million3 visitors expected to arrive in Japan next year, Visa has a range of initiatives underway to ensure the best possible commerce and payments experiences, including:
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visacorporate.tumblr.com and @VisaNews.
2 Euromonitor Financial Cards and Payments Report in Japan, https://www.euromonitor.com/financial-cards-and-payments-in-japan/report
3 Japan National Tourism Association, annual data as of Dec 31, 2017