Romania’s President Klaus Iohannis signed yesterday the law which provides that retailers are not obliged to issue cash anymore.

The cashback law, as it has been called, was sent by Iohannis for re-examination in the Parliament in June.

The previous version of the law obliged retailers to give customers who paid by card maximum RON 200 (EUR 44.3) in cash, upon their request. However, the Parliament accepted the demands of the president removing the provision that demanded that companies with a turnover of over EUR 10,000 needed to issue cash at the demand of customers.

Also, the law has broadened the scope of companies that can accept debit and credit card payments.

editor@romania-insider.com