Retail wants more electronic payments than cash in 4 years' time | RetailDetail

Retail wants more electronic payments than cash in 4 years' time

Retail wants more electronic payments than cash in 4 years' time

Entrepreneurs have made arrangements this week that they will try to make sure that card payments outnumber cash payments in four years' time. The safety and efficiency of electronic payments are the most important reasons.

Cash for small sums

 

The number of malfunctions and the costs have to be brought down. Currently, 6 out of 10 payments are still cash payments, despite that 62 % of turnover comes from electronic payments, so it is clear that there is still quite a bit of catching up to do when it comes to small sums.

 

In order to get customers to use electronic payments for small sums, entrepreneurs are considering contactless payments "Nearly 3/4th of all payments below 10 euro are currently paid in cash. With the recent introduction of contactless payments, customers can easily pay electronically and we want to stimulate this in the upcoming years", NVB president Chris Buijink said.

 

"Cash payments carries a lot of safety risks and with the arrangements made today we want to lower the share of cash in cash registers. That will lower the chance of robberies. That will create a safer store environment for the retailer, the employee and the customer", Detailhandel Nederland's Jacques Parson said.

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