Why Cash is King in Japan

I got a question from one of my viewers. She asked me why Japanese people prefer using cash to other cashless payments. I also know many Japanese people still use money when shopping but are unsure why.
So in this video, we talk about why cash is king in Japan.
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[@tiaterlaje]

As a financial mentor here in America, I actually enjoy going to the currency exchange and converting to Yen. It is an experience I love to show my children the difference in cultural consumerism. It is respectful and good etiquette for tourists to adapt to the local customs.

[@JapanwithNao]

Thank you for your comment! We can learn many things from culture difference😊and yes that’s enjoyable I agree with you👍

[@tiaterlaje]

@@JapanwithNao I love seeing my children read price labels in the stores and using the tray to pay. We love eating Japanese McDonald's & Ramen on our stopovers.

[@JapanwithNao]

Glad to hear that you enjoy some Japanese food😉

[@sharpasacueball]

I am from Korea and I just realized that a Japanese friend that I used to hang around with in college basically only ever used cash. Almost no one ever uses cash here and I can't remember the last time I paid or received anything in cash. I suppose there are advantages and disadvantages for both cash and non cash payment systems for individuals, but the government would definitely prefer non cash.

[@JapanwithNao]

Thank you for sharing your experience! I think many college students in 2023 still use Cash😂 I feel more places are available to use cashless payment in Japan, so let's see when Japan will be Korea in terms of cashless payment. 😆

[@marcuss7184]

it's great. while the western world is moving towards google and apple pay, in japan they still use a system that is still as convenient but not dependent on tech giants

[@JapanwithNao]

Thank you for your comment! Many people complain about still use cash though😂

[@harisadu8998]

You don't need tech giants. Only America needs tech giants. For example, in India, there is a bank to bank system of instant payments called UPI.

[@JapanwithNao]

Thank you for your comments! Is there anyone who doesn't use cash anymore?

[@tambert3897]

In live in Los Angeles, California. I have recently started paying mainly in cash instead of using my cards. It does prevent me from mindlessly spending money. I also started using a Kakeibo method to keeping track of my weekly and monthly spending.

[@JapanwithNao]

Thank you for your comment! Kakeibo! I did it long time ago😂 It's a bit bothersome until you make it a habit....Good luck anyway💯

[@keely5289]

I love that about Japan. I use cash everywhere.

[@JapanwithNao]

Nice comment but another surprise here! Using cash is also have a lot benefits for sure 😉

[@charliesmiler5618]

CASH IS FREEDOM! : DON'T KILL CASH!

[@JapanwithNao]

Thank you for your comment. I just used cash so not die at all here in Japan😆

[@sallyk3769]

this! the only thing I don't like about Japan. I was surprised by how strong the culture of cash in Japan.

[@JapanwithNao]

Thank you for your comment! The Japanese government has been working on it so cashless payments have been increasing but take ages, maybe😆

[@WolfBetter]

Cash is so much king that half the hotels I heard won't even accept a prepaid card or a bank transfer as a payment. it's either Credit Cards or Cash. I think I'll go with Cash.

[@JapanwithNao]

Thank you for your comment! Yes, some hotels are still only cash, I guess especially small ones 😎 It's a good idea you bring cash when you are in Japan💯

[@zajnat9747]

Interesting

[@JapanwithNao]

Thank you for watching!

[@callmelouanimal1658]

Now I understand why big wallets are really popular in Japan because Japanese use cash primarily. I mean look at your wallet 😂😂 that's massive lol. In my country it is very rare to see guys with big wallet 😂

[@JapanwithNao]

Thank you for your comment again! And....you are right😂 My wallet is...haha well, I don't use cash much, but I like a big one (^^). In Japa, guys also use a big wallet somehow😆

[@Kaydark]

Old people is why cash is King.

[@JapanwithNao]

Thank you for your comment! Yes they are😉

[@hernan2075]

Surprisingly one for the tech hubs of the world still work like the old ways, much like 3rd world countries. Political and cultural suppression is limiting them.

[@JapanwithNao]

Thank you for your comment. As you know, Japanese people are conservative, so not up to change.haha

[@Mullet-ZubazPants]

Japan was actually the first country to introduce mobile payments, in the early 2000's, but it never caught on. If Japan remains a cash society, they won't fall into the CBDC trap. This is a good thing, because CBDC's will be a dystopian nightmare

[@aassassin]

Ah, the nation of Japan: the nation living in the Year 3000 on some areas but also the nation stuck in the Year 2000 on some areas. Japan is the nation that will likely invent paying via implanted nanotechnology on the human body but also the nation that will become stubborn enough and still pay via cash🗣🗣🗣

[@JapanwithNao]

Thank you for watching! Some old cultures still stuck in 1970s though😂

[@bokchoy9632]

Their bill is big yet they still hate cashless lolllll carrying thise coins and papers are so NOT convenient

[@JapanwithNao]

Thank you for watching! You are right! But as far as shops accept only cash, we always need to bring cash...😂