Japan's Digital Transformation Aims to Modernize Economy with Cashless Society and Fintech Innovation
Japan is undergoing a significant digital transformation aimed at modernizing its economy, which has traditionally relied on cash and legacy infrastructure. The government's strategy, led by its Digital Agency, focuses on increasing cashless payments, digitizing public services, and fostering innovation in fintech and AI. The Bank of Japan and the Financial Services Agency are central to these efforts, promoting cashless payments and open banking. Japan has achieved near-universal financial inclusion, with over 98% of adults having access to a bank account. The focus is now on improving efficiency and user experience in financial services. 
