Japan 2020 consumption: "Fingerprint payments" to replace credit cards

▲ Japan will launch a fingerprint currency initiative where travelers can register personal details upon arrival at the airport (Photo / Dashijie / Illustration)

By Rita

With technology evolving rapidly, it may be hard to imagine that in the near future, "fingerprint payments" could replace credit cards when spending in Japan. This is the latest innovative scheme Japan is set to trial, but how well it will be received remains to be seen.

According to the UK's Daily Mail, the latest "fingerprint currency" will be tested in 2016, allowing identity verification via fingerprints so that purchases made in stores are completed in an instant, with credit card information also displayed. However, behind this plan is the Japanese government's preparation for the 2020 Tokyo Olympics and Paralympics.

Travelers can share and store their information at the airport, and this initiative also aims to reduce the risk of credit card fraud. So far, 300 shops, hotels, and inns have joined the program.

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