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

MIL OSI Translation. Region: France and French Territories –

Source: Republic of France in French

Credits : © stokkete – Fotolia.com

Make a € 20 shopping in a grocery store, pay 50 € by credit card and retrieve the merchant’s 30 € in cash : this type of transaction is now authorized in France. This practice, known as “cash back” is listed in the european directive on payment services (CSP2).

Withdraw cash at the supermarket checkout when a purchase is a practice that is already widespread in Europe, where this use of troubleshooting, according to a study by the european central Bank published in November 2017, representing about 7% of the total withdrawals, transactions with atms, approaching 40 %.

This new service has already been put in place in a large brand in France and is expected to spread gradually over the territory.

Useful in a rural area, the “cash back” may also be of interest to people that are unfamiliar with the new technologies, as well as the income consumers with very modest customers of hypermarkets who want to control their spending. Beyond the service rendered to the clients, this system is also useful in the dispenser, facilitating its management of the species.

Namely :

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

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