The cash back arrives in France. But what is it ?

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To make 20 € of races in a grocery store, to pay 50 € by credit card and to recover from the shopkeeper 30 € in cash: this type of transaction is now authorized in France. This so-called "cash back" practice is included in the European Payment Services Directive (PSD2).

Withdrawing cash at the supermarket checkout at the time of purchase is already widespread in Europe where this payday use, according to a study by the European Central Bank published in November 2017, represents around 7% of total withdrawals, transactions with ATMs approaching 40%.

This new service has already been set up in a major brand in France and should gradually expand over the territory.

Useful in rural areas, the "cash back" can also interest people unfamiliar with new technologies, as well as consumers with very modest income hypermarkets customers who want to control their expenses. Beyond the service provided to customers, this system is also useful to the distributor, facilitating his cash management.

To know :

Order 2017-1252 of 9 August 2017 transposing the European directive updates the legal framework for payment services, in order to adapt it to new types of players and products, to better protect the consumer, to enhance data security and support innovation. It has been ratified by the law of 3 August 2018. A decree (not yet published) must nevertheless specify the maximum amount in cash that can be disbursed in this context.

EDITOR'S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.