Companies with large turnovers obliged to set up POS terminals

From July 1, the economic entities with annual sales of over 2 million lei are obliged to have point-of-sale (POS) terminals, except those that work in rural areas, Info-Prim Neo reports, quoting a communiqué from the National Bank of Moldova. The POS terminals enable to pay for the sold products or provided services by bank cards. The central bank said it received a large number of notifications informing that some of the service providers do not have POS terminals even if they have large turnovers. The National Bank sent a letter to banks, asking that they provide the informational and technical support needed for the companies to comply with the legislation. According to the Bank, the POS terminals will contribute to stimulating payments by bank cards. The electronic payments reduce the costs of managing cash at company level and contribute to combating tax evasion in the national economy.