TOKYO, Feb. 27, 2019 /PRNewswire/ -- An expo on new-generation technologies that was held in Tokyo between from February 19-22, 2019, attracted 1,000 exhibitors and more than 65,000 visitors.
China is well ahead of the game, boasting years of experience, when it comes to cashless technologies. As both a leading and an exemplary provider of mobile payment software and hardware solutions in China, Inspiry showcased several payment devices based on its Smart Box at the expo.
Visitors were taken aback when presented with a square while box that enables payment without a scanner or a POS machine and walked away duly impressed by the box's ease of use.
Shoppers interact with the Inspiry Smart Box by scanning the QR-code generated by their e-wallets to complete the payment quickly and conveniently.
The Inspiry Smart Box has eliminated the time wasted having to make change as is the case for most cash transactions and is also much quicker than devices that read bankcards, vastly improving efficiency around the payment process. Data from Analysys showed that with a 70% share in its market segment, the Inspiry Smart Box has already become a fixture at the checkout counters of outlets at world-renowned brands such as KFC, 7-11, Burger King and CK.
Fujitsu and NEC, two leading payment device makers in Japan, expressed strong interest in the Smart Box. In addition to gaining widespread acceptance in restaurants, schools, public transportation facilities and healthcare institutions across China, the Smart Box is rapidly making its presence felt overseas, with a footprint in 20 countries and regions, most notably in Singapore, Australia, the US and several European countries.
Although Japan remains a cash-based economy, the Japanese government and many service providers are actively promoting cashless payment to better service foreign tourists during the 2020 Tokyo Olympics. Advanced payment solutions from China are positioned to help Japan, as many government departments in the country are strongly committed to the advocacy of mobile payment, in that they see it as a way of accelerating industrial development.
Inspiry founder and CEO Wang Yue said: "Japan's fintech industry is moving into to cashless. QR code-based payment will become the key to speeding up the efforts. With 17 years of experience in QR code application and payment, Inspiry is expected to facilitate cashless payment in Japan."