{"id":9554,"date":"2018-05-07T11:10:08","date_gmt":"2018-05-07T11:10:08","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=9554"},"modified":"2018-05-17T07:51:48","modified_gmt":"2018-05-17T07:51:48","slug":"japanese-banks-rushing-to-develop-cashless-options","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/japanese-banks-rushing-to-develop-cashless-options\/","title":{"rendered":"Japanese banks rushing to develop cashless options"},"content":{"rendered":"<p>A new law has been introduced in Japan to reduce the high usage of cash in the country. The law, which is being gradually phased in over the next two years, could spur increased financial sector competition from FinTech giants such as Ant Financial and Apple Inc. as well as startups like Ripple Labs Inc. and Origami Inc.<\/p>\n<p>As a response, banks are now rushing into digital payment services in order to protect their business and not lose out to new rivals. Projects are now under way to develop platforms using everything from QR codes to blockchain technology and digital currencies. For example, many banks have already begun submitting draft policies on application programming interfaces (APIs) that will open up their systems to FinTech firms seeking to do everything from payments and remittances to budget planning. The Financial Services Agency expects most lenders to have open APIs in place by 2020.<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-9554 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Infographic: how RegTech savvy are you?'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/infographic-how-regtech-savvy-are-you\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/03\/Infographics-how-regtech-savvy-are-you_\u0421\u0442\u0440\u0430\u043d\u0438\u0446\u0430_1-2-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9317\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-9317'>\n\t\t\t\tInfographic: how RegTech savvy are you?\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='The state of FinTechs in Ukraine'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/the-state-of-fintechs-in-ukraine\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/12\/the-state-of-fintechs-in-ukraine-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-14207\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-14207'>\n\t\t\t\tThe state of FinTechs in Ukraine\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='BFC FinTech Monitor (24th March \u2014 2nd\u00a0April)'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-24th-31st-march\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/04\/24b9f85b-1208-4607-add6-ecff88b4fb0e1-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-15941\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-15941'>\n\t\t\t\tBFC FinTech Monitor (24th March \u2014 2nd\u00a0April)\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>A new law has been introduced in Japan to reduce the high usage of cash in the country. The law, which is being gradually phased in over the next two years, could spur increased financial sector competition from FinTech giants such as Ant Financial and Apple Inc. as well as startups like Ripple Labs Inc. &hellip;<\/p>\n","protected":false},"author":5,"featured_media":9555,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,382],"tags":[287,70,75],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/9554"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=9554"}],"version-history":[{"count":4,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/9554\/revisions"}],"predecessor-version":[{"id":9748,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/9554\/revisions\/9748"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/9555"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=9554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=9554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=9554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}