Challenges in introducing payments revealed from the “Survey on the actual situation of introducing cashless payments among small and medium-sized businesses” (Ekiten Research Institute)

From August 7th to 11th, 2020, Ekiten Research Institute, a research and development department for small and medium-sized businesses operated by Design One Japan Co., Ltd., conducted the third survey on the current status of cashless payment implementation among small and medium-sized businesses. “Bun” was carried out. This third survey showed the current status of cashless payment operations ahead of the Myna Points business, which will start in September.

Reference source: – There are low expectations for the Myna Points business starting in September. A certain level of praise as a measure to prevent infection – Conducting third round of actual survey on cashless payment implementation among small and medium-sized businesses (Ekiten Research Institute)

The introduction of cashless payments has remained almost flat since December 2019.

Regarding the current status of the introduction of cashless payments such as credit card payments, QR code payments, and electronic money payments among small and medium-sized businesses across the country, 62.2% say they have adopted cashless payments, while 37.8% have not. Although there is an increasing trend when compared to the first survey conducted in July 2019, a comparison to the second survey conducted in December 2019 shows that the results are almost unchanged.

Many respondents cited “measures to prevent new coronavirus infection” as a benefit of introduction.

Of the stores that have introduced cashless payments, nearly half of them said that the positive aspect of implementing the system was that it helped prevent the spread of the new coronavirus. At Ekiten Souken, it is said that the new coronavirus can be transmitted even by touching something that has been contaminated, so the use of contactless payment rather than cash exchange has received a certain level of praise from many stores as a preventive measure against infection. is conveying.

As for the disadvantages of implementation, many respondents answered that there was a time lag before sales turned into cash.

On the other hand, of the stores that have introduced cashless payments, more than half of them said that the negative aspect of implementing cashless payments was that there was a time lag before sales were converted into cash. QR code payments have the shortest payment cycle for sales proceeds, with some being the next day, but depending on the payment brand and the timing of the sales confirmation process, the payment may be made at the end of the following month or at the end of the month after next, so this time lag may be a disadvantage. The reason behind this disadvantage is that there are many stores that are

“Fees” are a barrier to introducing cashless payments

Third part of the survey on the current status of cashless payment implementation among small and medium-sized businesses (according to Ekiten Research Institute) In a survey of stores that have not yet introduced cashless payments, 55.9% of them said they had no intention of introducing cashless payments. On the other hand, 40% expressed a certain degree of positive intention toward its introduction.

Additionally, in a survey on the barriers to introducing cashless payments, “merchant fees,” “introduction costs,” and “operating costs (terminals)” accounted for the majority.

Furthermore, in a survey of stores that had once introduced cashless payments but then discontinued them, a large number of stores answered that “the merchant fees were too much of a burden” and “it didn’t attract as many customers as I had expected.”

At Ekiten Research Institute, we can see that in the difficult business environment for small and medium-sized businesses due to the coronavirus pandemic, the use of cashless payments, which incur the cost of payment fees and the time lag in converting them into cash, is not very welcome. It has been revealed that