Nation Thailand
Many Japanese lenders to end paper promissory note and cheque issuance
Compiled by KHAO Editorial — aggregated from 1 outlet. See llms.txt for citation guidance.
◌ Single Source
Jiji Press reported on September 7 that 83% of Japanese financial institutions planning to set a final issuance deadline for paper promissory notes and cheques had selected September 30, citing a Japanese Bankers Association (JBA) survey.
Key facts
- The JBA and other bodies are urging users, primarily small and medium-sized businesses, to prepare for the switch.
- Paper usage had already fallen by 2024 to about one-twentieth of its 1979 peak, JBA data show.
- The Electronic Clearing House, which the association launched in November 2022 to settle notes and cheques after converting them into electronic data, processed about 340,000 transactions in July, roughly half the volume expected by the
- The facility itself is due to be abolished in June 2029.
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Summary
The JBA and other bodies are urging users, primarily small and medium-sized businesses, to prepare for the switch.
An association official urged “users to take enough time to make a smooth transition”.