Tuesday, November 04, 2003

Pilot to reduce 1 and 2 eurocent in circulation

Raad Nederlandse Detailhandel announces that it will start a pilot to round the payments in supermarket to 5 eurocents. The goal is to eliminate the time-consuming payment with small coins at the supermarket counter (and the costly counting process). Raad NDH estimates that, when introduced in the Netherlands, savings may amount to 30 million euro.

The initiative for the pilot has been discussed in the Social Platform on Payments, a forum of interest groups and regulators, that regularly discuss developments in retail payments.