Japan is planning to start allowing companies to pay wages to digital payment apps like PayPay and Rakuten Pay from April, the labor ministry said Wednesday, in a bid to promote cashless payments as a way to stimulate the economy.
The maximum balance of such digital wallets will be set to 1 million yen, with employees able to use the funds to make purchases or remittances directly.
The upper limit was determined amid concerns that app users cannot be protected sufficiently. Unlike banks, operators of the apps are not subject to the nation’s deposit insurance system, which covers principal of up to 10 million yen in case of bankruptcy.
The ministry on Wednesday approved a draft revision to a relevant ordinance.
While the revised ordinance is expected to come into effect in April, its implementation is unlikely to begin until several months later. Screening of app operators must be completed first, and companies considering digital wage payments also have to obtain consent from employees, the ministry said.
…continue reading
Japan to allow wage payments to digital wallets from April
Japan Today – Oct 27
Japan is planning to start allowing companies to pay wages to digital payment apps like PayPay and Rakuten Pay from April, the labor ministry said Wednesday, in a bid to promote cashless payments as a way to stimulate the economy.
Will VPNs Be Substituted by SASE?
newsonjapan.com – Oct 24
SASE got its first recognition after Gartner introduced it to describe the fusion of core network and security features delivered via a single cloud service.
JAXA Epsilon fails on sixth flight carrying RAISE-3 and others
nasaspaceflight.com – Oct 12
Epsilon launched from the Mu Pad at the Uchinoura Space Center in Japan at 00:50 UTC on Oct. 12. This launch marked the sixth flight of JAXA’s Epsilon rocket, and the launch vehicle was to loft a rideshare mission into orbit consisting of RAISE-3 and numerous other satellites.
Sky Mile Tower – Japan’s soon to be tallest building
interviewtimes.net – Oct 09
The Burj Khalifa, which stands 2,716.5 feet (almost half a mile) tall and has held the title of largest skyscraper for a long time, is about to lose that title to Japan’s ambitious Sky Mile Tower project.
Maglev shows off speed on test-run
NHK – Oct 06
A levitating train in central Japan has long been in development, and the company behind it has shown off its dazzling speed.
Sci-Tech Page: 1 | 2 | 3 | 4 | 5 | 6 | 7