Japan Convenience Stores to Give Discount for Cashless Payments

Economy

Tokyo, Aug. 21 (Jiji Press)--Three major Japanese convenience store operators will offer a 2 pct discount for cashless payments under the government's rebate program to ease the impact of the consumption tax hike in October, according to informed sources.

Seven-Eleven Japan Co., Lawson Inc. <2651> and FamilyMart Co. have concluded that providing an immediate discount would be better than giving shopping points at later dates in terms of fairness and convenience for customers, the sources said.

The rebate program, aimed at preventing consumption from falling after the tax increase from 8 pct to 10 pct and encouraging the use of cashless payments, will be implemented for nine months through June 2020.

The program will cover payments by credit cards, electronic money and quick response, or QR, codes on smartphones.

The head offices of convenience stores operated by Seven-Eleven Japan, Lawson and FamilyMart will shoulder the costs needed for the discount until they receive government subsidies.

[Copyright The Jiji Press, Ltd.]

Jiji Press