Retailers outline 'end of one cent' concerns : vimarsana.com

Retailers outline 'end of one cent' concerns


ykemp@tribunemedia.net
The Bahamas Federation of Retailers yesterday voiced several concerns with the adjustments required by eliminating the one cent coin even though it hailed the move as "a positive change".
Tara Morley, its co-president, detailed potential issues as The Bahamas gears up to cease using the coin as legal tender by year-end. In particular, she told Tribune Business there were concerns over the “return on uneven amounts” - something that merchants encounter on a fairly regular basis.
As an example, the Federation said that if a customer purchased several items costing a total of 42 cents via a cash transaction, the post-elimination "rounding" system rounds this down to 40 cents.

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