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.

[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 your comments! Is there anyone who doesn't use cash anymore?

[marcuss]

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

[tambert]

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.

[keely]

I love that about Japan. I use cash everywhere.

[sallyk]

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

[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.

[charliesmiler]

CASH IS FREEDOM! : DON'T KILL CASH!

[callmelouanimal]

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 😂

[hernan]

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.

[bokchoy]

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