Reasons why older people might be excluded from using bank cards in Japan.

Here’s why the elderly could be deprived of bank cards in Japan

In Japan, many elderly people could find themselves without access to a bank card, according to financial analysts. This trend can be explained by various socio-economic and cultural factors that mainly affect this segment of the population.

First of all, the main reason for this situation is related to technology. Many bank cards in Japan are equipped with contactless functionality, which facilitates fast and convenient payments. However, many seniors are not comfortable using these new technologies. They may feel overwhelmed by electronic payment terminals and prefer cash transactions, which are considered more traditional and familiar.

Additionally, Japan is known for its culture of respect for elders. Older people are often seen as living treasures and are often supported by their families and communities. This means that they may have less reason to depend on a bank card. They can rely on loved ones to help them manage their finances and make payments on their behalf.

In addition, another cause of this potential exclusion is related to income. Older people may have more limited income, caused by retirement or a low pension. In many cases, they can receive their payments in the form of checks or cash, rather than having to deposit them into a bank account. This can lead to an automatic exclusion from the need for a bank card.

Finally, some experts point out that the financial education of seniors is also a key factor in this trend. Indeed, many older people have not had access to sufficient financial education and may find it difficult to understand how to use a bank card correctly and know the necessary security measures. Therefore, they prefer to stick to payment methods they know and understand, such as cash.

In conclusion, older people in Japan might be deprived of access to a bank card due to multiple factors, including technology, culture, income, and financial education. These factors contribute to their preference for cash transactions and their reliance on loved ones to manage their finances. It is important to take these aspects into account when setting up new financial policies to ensure that all population groups are included.

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