LEGISLATIVE INITIATIVE / LAW IMPLEMENTATION
MACRO ECONOMIC CONTEXT
In the period 2002-2003, Romania faced a major financial blockade, which led the Government and the National Bank of Romania to adopt a joint Action Program, a program that included a package of legislative measures intended to stimulate electronic payments.
This is how the Government's Emergency Ordinance no. 193 of 2002 regarding the introduction of modern means of payment to a number of entities such as: providers of public utility services, public institutions and retailers with a turnover of more than 100,000 euros.
Law 209 from 2016 represents the natural continuation of O.U.G. 193 from 2002 on the introduction of modern means of payment, a normative act that for the first time introduced the obligation of public utility service providers, public institutions and merchants with a turnover of more than 100,000 euros to accept card payments.
Initially thought of as a measure to reduce the financial blockage that manifested itself in the 2000s in the economic climate in Romania, the expansion of the electronic payment infrastructure demonstrated its positive effects both in terms of reducing the untaxed economy and by increasing the traceability of the monetary mass.
IN RELATION TO MEMBERS, PROJECT PARTNERS AND AUTHORITIES:
THE REDUCTION OF SOME SYSTEMIC IMBALANCES
The measures implemented in the early 2000s by the Government and the National Bank of Romania helped Romania to overcome the financial blockade it was facing. The economic climate was characterized in the period 2002-2015 by the expansion of the electronic payment infrastructure and the dissemination in the market of over 10 million cards. The in-depth study of this climate highlighted, however, the deepening of the imbalances between urban and rural areas from the perspective of the population's access to modern financial means and instruments. Law 209 from 2016 was intended to reconnect the rural environment to the urban environment in terms of electronic payments, by expanding the network of POS terminals and giving cardholders the possibility to use modern payment instruments in rural areas as well. (supporting note)