Parliament increases sales limit over which card payments are mandatory in Romania

The Parliament adopted a bill that increases the turnover threshold over which companies in the trade sector are obliged to accept card payments, Profit.ro reported. The new turnover limit is EUR 50,000 per year, up from the current level of EUR 10,000 per year, which was introduced at the beginning of this year when the cash-back law came into force. The MPs who pleaded for increasing the threshold argued that small retailers wouldn’t afford the costs of introducing card payment terminals (POS) despite the fact that these costs are fully covered by the banks that supply such equipment. The other novelty is that wholesalers with turnovers over EUR 50,000 per year will also have to accept card payments. Romanian Parliament takes step back on card payments editor@romania-insider.com