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Point reward program for tax hike seen fueling price wars in Japan

The program, to be in place from October to June next year, will reward 5 pct of the purchase amount to consumers from the state coffers in forms such as shopping points when they use cashless systems including electronic money and credit cards to pay for goods or services at small retail shops or restaurants. The rate of the reward will be 2 pct for purchases at franchise shops of major convenience store and fast food chains.

Source: nippon.com

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