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Japan convenience stores to offset 2% tax hike with discounts

Government push for cashless payment likely to add pressure on small stores

Cashless payments make up about a fifth of the total in Japan, putting it behind other countries making the switch away from cash.

TOKYO -- Japan's convenience stores will offer 2% price discounts on the spot for cashless purchases starting October when the consumption tax rises to 10% from 8%, Nikkei has learned.

It will be part of a government program aimed at cushioning the impact of the 2 percentage point tax hike, but instead of offering a 2% point reward to be used at a later date, the convenience stores will, in effect, cut prices at the point of purchase.   

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