News On Japan

Google to accept 3rd-party app payments in Japan

Sep 03, 2022 (Nikkei) - Google plans to accept the use of third-party payment services on its smartphone app in most major countries such as Japan and India, but not the U.S., marking a turning point in its conflict with foreign authorities who have been calling for the opening of payment systems to the outside to promote competition.

App developers have only been able to use Google's payment system when distributing their apps on Google Play. In response to growing demand to open up payment methods to third parties, Google will introduce a "pilot program," which will allow developers to choose credit cards or other payment methods.

Major markets such Australia and Indonesia are also included in the program, and app developers have been able to apply to participate in the program starting Thursday.

The program will initially be limited to app developers offering applications that are not games, but Google plans to allow participation if certain conditions are met.

The tech giant has previously collected 15% of sales from most developers as a fee, but will lower this to 11% even when external payment system is used. Developers who have been paying a 30% fee will see it reduced to 26%.

Google began offering its own app store Google Play in 2008, requiring app developers to use its own payment system. However, as the app market expanded, some developers protested that the fees were too high. Authorities in various regions followed, applying pressure to open the payment system to outside parties. ...continue reading

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Typhoon No. 25 was moving away from Japan over waters to the east early on September 22, bringing an end to rainfall across the Kanto region while remaining a strong storm as it tracked northeast at 45 kilometers per hour at 3 a.m.

Severe transport disruption continued across Chiba Prefecture on the morning of September 22 even as Typhoon No. 25 moved away from Japan, with major JR lines still suspended, rail access to Narita Airport disrupted by river flooding, highways closed across the Boso Peninsula and thousands of travelers dealing with the aftermath of the previous day's cancellations.

Japan collected another 12 medals on Day 3 of the Aichi-Nagoya Asian Games on September 21, with 17-year-old swimmer Shin Ohashi and karateka Kakeru Nishiyama winning gold, while the host nation also advanced strongly in women's volleyball, baseball, soccer, handball and hockey.

People aged 65 and older accounted for a record 29.6% of Japan's population in 2026, the highest proportion among major countries worldwide, while the number of elderly people in employment also reached an all-time high as Japan marked Respect for the Aged Day on September 21.

Emperor Naruhito and Empress Masako watched Japan defeat Kazakhstan in a women’s basketball preliminary-round game at the 20th Asian Games in Nagoya.

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Tokyo’s stock market was closed on September 21 for Respect for the Aged Day, leaving the Nikkei 225 without a cash close after finishing the previous session at 65,019, while currency and futures markets focused on the yen, the Bank of Japan’s latest rate hike and intervention risks during Japan’s Silver Week holiday.

Japan's first five-day Silver Week holiday in 11 years has put renewed attention on household finances, with persistently high food prices and a weakening yen threatening to erode the benefits of the government's planned consumption tax cut on food.

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The Bank of Japan raised its policy rate from 1.0% to 1.25% on September 18, taking borrowing costs to their highest level in 31 years and accelerating the pace of monetary tightening as persistent inflation and concerns over fiscal expansion put upward pressure on interest rates.

The yen strengthened by more than 1 yen against the dollar in a short period late on September 18 after the Bank of Japan conducted a rate check, a step commonly taken in preparation for possible intervention in the foreign exchange market.

Tokyo stocks rose sharply on September 18, with the Nikkei 225 climbing to around 65,350 in afternoon trading after the Bank of Japan raised interest rates to 1.25%, as the yen weakened and investors bought artificial intelligence and semiconductor-related shares.

The Bank of Japan raised its policy interest rate from 1.0% to 1.25% on September 18, lifting borrowing costs to their highest level in 31 years as policymakers moved to contain growing inflation risks, but the yen weakened sharply after the decision as markets focused on two dissenting votes and uncertainty over the pace of further increases.

A market spread is generally the difference between two market prices. Most commonly, traders use the term to describe the bid-ask spread: the difference between the highest price a buyer is currently prepared to pay and the lowest price a seller is prepared to accept.