All retailers in Romania that make an annual turnover of over EUR 10,000 will be obliged to allow card payments starting January 1, 2017, according to the recently adopted cash-back law, which was published yesterday in the Official Gazette.

They will be obliged to have at least one POS available in each store. If not, they risk getting fines from RON 5,000 (EUR 1,100) to RON 7,500 (EUR 1,660).

The law was adopted last week by the Parliament and promulgated by President Klaus Iohannis.

The law also obliges public institutions to allow card payments. The institutions that will not accept the payment of taxes or fees by card risk fines of RON EUR 4,400-EUR 11,000.

editor@romania-insider.com