ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Economy

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.   

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more