Retail can round off at .0 or .05 after all

Retail can round off at .0 or .05 after all

Retailers will have the right to round off cash payments to .0 or 0.05 euro cent after all, with the cabinet accepting the bill after all, despite it being rejected earlier on.

Reasons to round off

The retail sector has been complaining for quite a while, as customers lose a lot of time searching for 0.01 and 0.02 euro cents. On the other hand, retailers usually don't have enough of these copper cents, as a lot of consumer hoard these coins at home.

 

Unizo, the organization for the SMEs, applauds the government's "logical and obvious" decision. The organization believes consumer organizations, labour unions and employers were in favour of rounding off. Reports from the National Bank, European Central Bank, the "Prijzenobservatorium" (Price Observatory) and the "Raad van State" (Council of State) failed to bring forth any objections.

 

PS accepts compromise

It seemed the bill would be vetoed by the PS, despite an agreement in principle which it then denounced out of fear it would receive backlash from its supporters. These supporters fear price hikes may follow the bill.

 

A lot of people believed the decision would be postponed until after the elections, but that has been avoided as a compromise has convinced the PS. Retailers can only round off when it is for cash payments, but not for credit card payments, when in the original bill, that was the case.

 

The proposal will be evaluated over the next two years and then it will be decided whether it will be expanded to all types of payments.

Questions or comments? Please feel free to contact the editors


EuroCommerce: protectionism, Europe’s greatest challenge

15/09/2017

(Content provided by EuroCommerce) According to EuroCommerce Director-General Christian Verschueren, the sector faces many challenges due to a rising tide of protectionism worldwide and within Europe.

Last ten days for cheaper tickets Shoptalk Europe

14/09/2017

(advertorial) Shoptalk Europe (8-11 October in Copenhagen) is the new event for retail and ecommerce innovation. It covers transformational trends, technologies and business models reshaping how consumers discover and shop in an age of digital disruption.

"EU has to define eCommerce's boundaries better"

13/09/2017

Dutch European Parliament member Marietje Schaak feels the European Commission should create a better framework for digital trade in and with European member states. Otherwise, major internet companies will decide the standards themselves, she fears.

Europe wants legal framework for franchisees

13/09/2017

The European Parliament has accepted the “The functioning of franchising in the retail sector” study, which lists several solutions to strengthen a franchisee’s position.

Google appeals European fine after all

12/09/2017

Despite earlier indications that Google would just alter its Google Shopping approach to comply with European legislation, it has now decided to appeal the monster fine.

Experience the future of retail at Paris Retail Week

12/09/2017

(Advertorial) If you want to spot the latest retail trends, go to visit the Paris Retail Week, from 19 until 21 September. It is a trade show, network event and knowledge center with more than 200 freely accessible conferences, keynotes, info sessions and workshops.

Back to top