Banks in Romania enter the food vouchers market
Local banks have entered the market of food and holiday vouchers for employees starting this year.
Three companies have had monopoly on the market so far, namely Edenred, Sodexo and Grup Up.
However, a law issued last year allows the transformation of food and holiday vouchers into electronic cards that use the contactless technology. This brings the commercial banks into the game. They will issue cards under the Visa and MasterCard licenses, reports local Economica.net.
Edenred has already started offering holiday and food vouchers in the form of electronic cards in November last year.
Some 130,000 food retailers in the entire country accept the cards. The market for food and holiday vouchers for employees amounts to over EUR 1 billion.
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