Japan E-commerce Payment Market, Size, Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis
Japan E-Commerce Payment Market Outlook
Japan E-Commerce Payment Market is projected to grow US$ 256.90 Billion by 2028, according to Renub Research. Japan boasts one of the world’s largest and most advanced e-commerce markets. As the fourth-largest e-commerce market globally, Japan has experienced rapid adoption of mobile payments, leading to billions of dollars in transactions. Mobile payments in Japan primarily rely on technologies like NFC and QR codes. Younger, tech-savvy generations find it particularly convenient to use their smartphones for payments, either through dedicated payment apps or by scanning QR codes.
To enhance customer loyalty and satisfaction, popular QR code payment brands like PayPay, Line Pay, and MerPay offer various rewards based on transaction activity. Mobile shopping has become commonplace among Japan online population, driving significant growth in the e-commerce payment industry. However, despite Japan reputation for embracing technology, mobile commerce payment uptake remains relatively low due to the persistence of desktop usage and a larger aging population that is less inclined to adopt smartphones.
The government's "Cashless Vision" aims to increase cashless settlements from 18.4% to 40% by 2025. Encouraging credit card companies to adopt APIs, this initiative responds to the demand for secure and convenient fintech services. By promoting API integration, the government seeks to accelerate cashless payment adoption and drive digital transformation in financial services.
Japan E-commerce Payment Market is likely to grow at a CAGR of 10.60% from 2022-2028
The Japanese ecommerce industry is experiencing rapid growth, accompanied by the emergence of key consumer trends. Three significant trends shaping the landscape are sustainability, omni-channel shopping, and ID payments. Ecommerce companies are acknowledging the importance of these trends and adjusting their strategies accordingly to cater to evolving consumer demands. ID payments offer customers secure and convenient payment options while enabling a more personalized shopping journey. As these trends continue to shape the Japanese ecommerce industry, companies that prioritize sustainability, seamless shopping experiences, and secure payment methods will be well-positioned for success in this evolving landscape. As a result, Japan E-commerce Payment Market was US$ 140.37 Billion in 2022.
In Japan e-commerce payment industry, media products hold the largest market share
By Segment, Japan E-commerce Payment Market is divided into Media Products, Apparel and Footwear, Food and Drink, Personal Accessories and Eyewear, Consumer Electronics, Beauty and Personal Care, Home wares and Home Furnishings, Consumer Appliances, Consumer Health, Traditional Toys and Games, Pet Care, Home Improvement and Gardening, Video Games Hardware and Home Care. The payment market for media products in Japan holds the highest share, reflecting the significant role of digital media consumption in the country. With a tech-savvy population and a strong preference for digital content, Japanese consumers are actively utilizing various payment methods to access and purchase media products such as streaming services, e-books, and digital downloads. This dominance highlights the evolving landscape of media consumption and the increasing demand for convenient and secure payment solutions within the Japanese market.
The apparel and footwear segment has emerged as the fastest-growing sector in Japan's e-commerce payment industry. With a surge in online shopping and shifting consumer preferences, the demand for convenient and secure payment methods for purchasing apparel and footwear has significantly increased. E-commerce platforms and retailers are focusing on enhancing the payment experience, offering seamless transactions, and implementing innovative payment solutions to cater to this growing trend. This rapid growth signifies the importance of the apparel and footwear sector within Japan's evolving e-commerce landscape.
Credit card payments are the dominant force in Japan e-commerce payment industry, holding the majority of the market
By Payment Method, Japan E-commerce Payment Market is breakup into Credit Card, Convenience Store Payment, Direct Carrier (Billing) and Mobile Payment, Cash on Delivery and Other. Japan mobile payment sector is experiencing rapid growth, making it the fastest-growing segment in the country's e-commerce payment industry. With the widespread use of smartphones and the convenience they offer, Japanese consumers are increasingly embracing mobile payment methods for their online transactions.
In a move to address the challenges faced by foreign workers in Japan and promote market expansion and deregulation, the Japanese government is planning to implement a digital salary payment system by spring 2023. This system enables companies to transfer salaries directly to workers using smartphone payment apps, bypassing the need for traditional bank accounts. By promoting this initiative, the government aims to facilitate financial inclusivity, enhance convenience, and stimulate economic growth in the country. This trend is driven by the ease of use, enhanced security measures, and seamless integration with various e-commerce platforms. As mobile payment technologies continue to advance, their popularity and adoption are expected to further propel the growth of Japan's e-commerce payment industry.
Credit cards offer convenience, security, and widespread acceptance, making them a preferred choice for online transactions. With well-established credit card networks and a culture of credit card usage, Japanese consumers rely on this payment method for their e-commerce purchases. While alternative payment methods are growing, credit cards continue to maintain their stronghold as the primary mode of payment in Japan's e-commerce landscape.
Key Company
The Japan e-commerce payment market is dominated by major players such as Rakuten Group, Suica, PayPay, Origami, merPay, and D-barai. These companies play a significant role in shaping the landscape of e-commerce payments in Japan. With their innovative payment solutions and strong market presence, they cater to the diverse payment needs of consumers and businesses alike. The competition among these key players fosters technological advancements, improved user experiences, and a wide range of payment options, contributing to the overall growth and development of the e-commerce payment market in Japan.
Renub Research latest report “Japan's E-commerce Payment Market, Payment Method (Credit Card, Convenience Store Payment, Direct Carrier (Billing), Mobile Payment, Cash on Delivery and Other), By Segment (Media Products, Apparel and Footwear, Food and Drink, Personal Accessories and Eyewear, Consumer Electronics, Beauty and Personal Care, Home wares and Home Furnishings, Consumer Appliances, Consumer Health, Traditional Toys and Games, Pet Care, Home Improvement and Gardening, Video Games Hardware and Home Care), Companies (Rakuten Group, Suica, PayPay, Origami, D-barai, and merPay)” provides a detailed analysis of Japan eCommerce Payment Industry.
Payment Method – Japan Ecommerce Payment Market has been covered from 6 viewpoints:
1. Credit Card
2. Convenience Store Payment
3. Direct Carrier (Billing)
4. Mobile Payment
5. Cash on Delivery
6. Other
Segment – Japan e-commerce Market has been covered from 14 viewpoints:
1. Media Products
2. Apparel and Footwear
3. Food and Drink
4. Personal Accessories and Eyewear
5. Consumer Electronics
6. Beauty and Personal Care
7. Home wares and Home Furnishings
8. Consumer Appliances
9. Consumer Health
10. Traditional Toys and Games
11. Pet Care
12. Home Improvement and Gardening
13. Video Games Hardware
14. Home Care
Company Insights:
• Overview
• Recent Development
Company Analysis:
1. Rakuten Group
2. Suica
3. PayPal
4. Origami
5. merPay
Report Details:
| Report Features | Details |
| Base Year | 2022 |
| Historical Period | 2018 - 2022 |
| Forecast Period | 2023 - 2028 |
| Market | US$ Billion |
| Segment Covered | Payment Method and Segment |
| Companies Covered | Rakuten Group, Suica, PayPay, Origami, D-barai, and merPay |
| Customization Scope | 20% Free Customization |
| Post-Sale Analyst Support | 1 Year (52 Weeks) |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on request) |
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Japan E-Commerce Payment Market Analysis
6. Market Share Analysis – Japan Ecommerce Market
6.1 By Payment Method
6.2 By Segment
7. Payment Method – Japan Ecommerce Market
7.1 Credit Card
7.2 Convenience Store Payment
7.3 Direct Carrier (Billing)
7.4 Mobile Payment
7.5 Cash on Delivery
7.6 Other
8. Segment – Japan Ecommerce Payment Market
8.1 Media Products
8.2 Apparel and Footwear
8.3 Food and Drink
8.4 Personal Accessories and Eyewear
8.5 Consumer Electronics
8.6 Beauty and Personal Care
8.7 Homewares and Home Furnishings
8.8 Consumer Appliances
8.9 Consumer Health
8.10 Traditional Toys and Games
8.11 Pet Care
8.12 Home Improvement and Gardening
8.13 Video Games Hardware
8.14 Home Care
9. Porters Five Forces
9.1 Bargaining Power of Buyer
9.2 Bargaining Power of Supplier
9.3 Threat of New Entrants
9.4 Rivalry among Existing Competitors
9.5 Threat of Substitute Products
10. SWOT Analysis
10.1 Strengths
10.2 Weaknesses
10.3 Opportunities
10.4 Threats
11. Company Analysis
11.1 Rakuten Group
11.1.1 Overview
11.1.2 Recent Development
11.1.3 SWOT Analysis
11.2 Suica
11.2.1 Overview
11.2.2 Recent Development
11.2.3 SWOT Analysis
11.3 PayPay
11.3.1 Overview
11.3.2 Recent Development
11.3.3 SWOT Analysis
11.4 Origami
11.4.1 Overview
11.4.2 Recent Development
11.4.3 SWOT Analysis
11.5 D-barai
11.5.1 Overview
11.5.2 Recent Development
11.5.3 SWOT Analysis
11.6 merPay
11.6.1 Overview
11.6.2 Recent Development
11.6.3 SWOT Analysis
List of Figures:
Figure-01: Japan – E-Commerce Payment Market (Billion US$), 2018 – 2022
Figure-02: Japan – Forecast for E-Commerce Payment Market (Billion US$), 2023 – 2028
Figure-03: Payment Method – Credit Card Market (Billion US$), 2018 – 2022
Figure-04: Payment Method – Forecast for Credit Card Market (Billion US$), 2023 – 2028
Figure-05: Payment Method – Convenience Store Payment Market (Billion US$), 2018 – 2022
Figure-06: Payment Method – Forecast for Convenience Store Payment Market (Billion US$), 2023 – 2028
Figure-07: Payment Method – Direct Carrier (Billing) Market (Billion US$), 2018 – 2022
Figure-08: Payment Method – Forecast for Direct Carrier (Billing) Market (Billion US$), 2023 – 2028
Figure-09: Payment Method – Mobile Payment Market (Billion US$), 2018 – 2022
Figure-10: Payment Method – Forecast for Mobile Payment Market (Billion US$), 2023 – 2028
Figure-11: Payment Method – Cash on Delivery Market (Billion US$), 2018 – 2022
Figure-12: Payment Method – Forecast for Cash on Delivery Market (Billion US$), 2023 – 2028
Figure-13: Payment Method – Other Market (Billion US$), 2018 – 2022
Figure-14: Payment Method – Forecast for Other Market (Billion US$), 2023 – 2028
Figure-15: Segment – Media Products Market (Billion US$), 2018 – 2022
Figure-16: Segment – Forecast for Media Products Market (Billion US$), 2023 – 2028
Figure-17: Segment – Apparel and Footwear Market (Billion US$), 2018 – 2022
Figure-18: Segment – Forecast for Apparel and Footwear Market (Billion US$), 2023 – 2028
Figure-19: Segment – Food and Drink Market (Billion US$), 2018 – 2022
Figure-20: Segment – Forecast for Food and Drink Market (Billion US$), 2023 – 2028
Figure-21: Segment – Personal Accessories and Eyewear Market (Billion US$), 2018 – 2022
Figure-22: Segment – Forecast for Personal Accessories and Eyewear Market (Billion US$), 2023 – 2028
Figure-23: Segment – Consumer Electronics Market (Billion US$), 2018 – 2022
Figure-24: Segment – Forecast for Consumer Electronics Market (Billion US$), 2023 – 2028
Figure-25: Segment – Beauty and Personal Care Market (Billion US$), 2018 – 2022
Figure-26: Segment – Forecast for Beauty and Personal Care Market (Billion US$), 2023 – 2028
Figure-27: Segment – Homewares and Home Furnishings Market (Billion US$), 2018 – 2022
Figure-28: Segment – Forecast for Homewares and Home Furnishings Market (Billion US$), 2023 – 2028
Figure-29: Segment – Consumer Appliances Market (Billion US$), 2018 – 2022
Figure-30: Segment – Forecast for Consumer Appliances Market (Billion US$), 2023 – 2028
Figure-31: Segment – Consumer Health Market (Billion US$), 2018 – 2022
Figure-32: Segment – Forecast for Consumer Health Market (Billion US$), 2023 – 2028
Figure-33: Segment – Traditional Toys and Games Market (Billion US$), 2018 – 2022
Figure-34: Segment – Forecast for Traditional Toys and Games Market (Billion US$), 2023 – 2028
Figure-35: Segment – Pet Care Market (Billion US$), 2018 – 2022
Figure-36: Segment – Forecast for Pet Care Market (Billion US$), 2023 – 2028
Figure-37: Segment – Home Improvement and Gardening Market (Billion US$), 2018 – 2022
Figure-38: Segment – Forecast for Home Improvement and Gardening Market (Billion US$), 2023 – 2028
Figure-39: Segment – Video Games Hardware Market (Billion US$), 2018 – 2022
Figure-40: Segment – Forecast for Video Games Hardware Market (Billion US$), 2023 – 2028
Figure-41: Segment – Home Care Market (Billion US$), 2018 – 2022
Figure-42: Segment – Forecast for Home Care Market (Billion US$), 2023 – 2028
List of Tables:
Table-01: Japan E-Commerce Payment Market Share by Payment Method (Percent), 2018 – 2022
Table-02: Japan – Forecast for E-Commerce Payment Market Share by Payment Method (Percent), 2023 – 2028
Table-03: Japan E-Commerce Payment Market Share by Segment (Percent), 2018 – 2022
Table-04: Japan – Forecast for E-Commerce Payment Market Share by Segment (Percent), 2023 – 2028
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