This report comprehensively compiles and analyzes the Payment and Settlement Trends statistics for July 2025, published by the Bank of Japan's Payment and Settlement Systems Department on August 29, 2025, covering key indicators of Japan's payment activities.
Bank of Japan Current Account Settlement Trends
Bank of Japan current account settlements in July 2025 (daily average per business day) showed 90,884 transactions (up 1.6% year-on-year) and a value of 218.7 trillion yen (down 3.2% year-on-year). While transaction volume continues to exceed the previous year's level, the growth rate has decelerated from +2.5% in the previous month. In terms of value, levels have remained below the same month in the previous year for three consecutive months, with a continuing trend of decreased large-scale transactions.
Zengin System Transaction Volume
Small-Value Domestic Fund Transfer Transactions: The daily average transaction volume of the Core Time System was 35,566 transactions (up 0.1% year-on-year), maintaining a level comparable to the previous year. The More Time System processed 28,963 transactions (down 0.0% year-on-year), remaining almost flat compared to the previous year. Overall small-value transactions maintain stable processing volumes, demonstrating the smooth functioning of payment infrastructure.
BOJ-NET Usage Status
Government bond book-entry transfer settlements and DVP (delivery versus payment) transactions continue to be processed steadily, confirming the stable payment foundation functioning in Japan's financial markets. Current account settlements for clearing organizations and DVP settlements for securities depository institutions are also operating smoothly.
Electronic Payment Services
The utilization status of electronic payment methods such as electronic money and debit cards is also included in the statistics, positioned as important indicators for understanding the penetration of non-cash payment methods. Bill clearing volume (electronic clearing houses) and foreign exchange yen settlement clearing volume are also included, enabling comprehensive analysis of payment trends.
Statistical Significance and Utilization
These statistics are compiled with cooperation from the Bank of Japan and the Japanese Bankers Association, among others, functioning as important indicators for monitoring the operational status and stability of Japan's overall payment system. They are utilized as basic materials for monetary policy operations, financial system stability evaluation, and consideration of payment system sophistication.
The report shows that in July 2025 payment trends, while maintaining stable growth in transaction volume, the value side continues at levels below the previous year due to decreased large-scale transactions, indicating that Japan's payment system is transitioning from a phase of quantitative expansion to one emphasizing efficiency.