As of 2023, Japan had 12.16 cards with a payment function per inhabitant. Forecasts from 2024 to 2028 indicate a steady growth in this metric, increasing from 12.29 in 2024 to 12.79 by 2028. The year-on-year growth rates from 2024 to 2028 reveal a consistent rise of approximately 1.1% annually. The compound annual growth rate (CAGR) over this five-year period is modest, reflecting a mature market with incremental gains in card penetration.
Future trends to watch for:
- Integration of payment functions with digital wallets and mobile apps.
- Expansion of contactless payment solutions and acceptance.
- Developments in biometric authentication enhancing card security.
- Regulatory changes impacting the payment card landscape.
