Electronics retailer: Gravis no longer accepts cash

This article first appeared on RTL.

Electronics retailer: Gravis no longer accepts cash

This article first appeared on RTL.de.

The electronics retailer Gravis has not accepted cash in its 40 branches since Monday. In the future, you will only be able to pay for cheap accessories with a card, mobile phone or smartwatch.

As the "Spiegel" first reported, Gravis will no longer accept cash payments in its 40 branches from January 16th. This applies regardless of the purchase value.

When asked by RTL, the company explains: "Only a small single-digit percentage still pays us in cash today." The decision was then made "after a careful examination of the internal processes and a successful test phase in selected stores based on the above-average acceptance of cashless payments".

Cashless payments are "simple, secure, fast from the customer's point of view - and have long since been learned". You go with the step "actively follow the path of our customers".

But the decision doesn't seem to be quite so unselfish and only oriented towards the customers. "For us as a retailer, cashless payment is cheaper, easier and it enables faster processes," admits electronics retailer Gravis when asked by RTL.

Supposedly, the decision could also keep prices stable for longer. However, these are mainly determined by the tech giant Apple. Because Gravis mainly sells Apple products and also accessories for Apple products from third-party manufacturers.

After all, euro banknotes are the only unrestricted legal tender in Germany. "This means that dealers and service providers must always accept cash," explains the Schleswig-Holstein consumer advice center. "However, you have the option of restricting or excluding cash payments with an agreement or in your general terms and conditions."

Important: In this case, the providers must inform their customers clearly and in good time, for example with an easily recognizable notice.

Accordingly, Gravis does not fear any trouble. Mann wants to inform customers "in the form of clearly visible displays in the checkout area" and about the General Terms and Conditions (GTC). Gravis assumes "that most of our customers can understand the advantages of cashless payments".

According to the European Central Bank (ECB), paying without notes and coins is becoming increasingly important for consumers in the euro area. Cash is still the most commonly used means of payment at the checkout, according to a study published by the ECB at the end of December 2022.

But in terms of value, card payments surpassed bills and coins for the first time. The corona pandemic has accelerated the trend towards electronic means of payment. A majority of consumers now prefer electronic means of payment.

And in Germany, too, people's love of cash as a means of payment has waned, as a recently published study by the Deutsche Bundesbank revealed. However, the majority of payment transactions for goods and services are still paid for with notes and coins. But in terms of sales, the card is now ahead. (with dpa/aze)

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