NHK reports that the Tokyo Metropolitan Government has chosen a strategy for its very own trial usage of its own loyalty point framework tentatively called Tokyo YUA Coin. The testing is anticipated to run from January to February next year, targeting Marunouchi, Otemachi, and Yurakucho zones along the Tokyu Railway in Tokyo. The government is additionally thinking about the issuance of an independent cryptocurrency soon.
The point system effort expects to elevate the move to a cashless society and exercises identified with the United Nation’s Sustainable Development Goals (SDGs). Tokyo YUA Coins will be given to individuals who utilize cashless payments for expenses connected to contributing to the SDGs in their everyday life like commuting during off-peak hours to mitigate swarming during the morning and evening rush, utilizing their very own eco-bag for shopping, and lessening plastic waste.
In accordance with the consumption tax rising from 8% to 10% in Japan in October, medium and small business operators are presenting measures throughout the following nine months that will enable for loyalty point frameworks that return a percentage of the purchase as loyalty points when clients pay with credit card or any digital payment. Numerous Japanese customers still pay with cash, and the reason for these measures is to make cashless payments increasingly typical while providing an incentive for buyers. Tokyo YUA Coin can be seen as a part of the move towards cashless payments while urging activities that contribute to the SDGs.