Retailers must accept cash payments
March 2024 - The House plenary approved a bill requiring retailers to accept cash payments.
According to European regulations, customers in the European Union must be free to choose whether to pay in cash or electronically. However, the number of stores where this is not possible is increasing. More and more merchants are refusing cash payments. With the new legislation, the government is connecting the dots.
Protective measure
The bill by Economy Minister Pierre-Yves Dermagne (PS) has just been approved in the Chamber. It will protect people less in tune with electronic payments or banking, such as people without a bank account or children: they often do not have a bank card, but sometimes want to purchase in a store.
Bullying measure?
Self-employment organization Unizo calls the new law a bullying measure. "The 6 per cent of entrepreneurs who now work cashless because their customers simply don't ask for cash have to adapt. This is yet another additional regulation that costs money and time, while things were going perfectly well for those involved without cash."
Since July 2022, stores have been required to offer an electronic payment option, such as via debit card or smartphone. There was some opposition to this from the industry at the time as well, mainly because of the high transaction costs.
Penalties for persistent retailers
The obligation to accept cash comes with sanctions for shopkeepers who refuse, after two warnings. There are some exceptions where cash may still be refused, for example in the exceptional case of a major security risk.
