November 14, 2007

One cent coin to be demonetized

I just got news from the star that government will implement rounding mechanism for over-the-counter transactions by April 1 next year. That means that all payment totals will either be rounded up or down to the nearest five cents.

This implementation is good for me, I always keep all the one cent coin all around my room. I tried many time to carry together all the coins when gone out to buy something. But it ended up I gave up paying with one cent when come to buying goods like 1.99, just because very hard to take out all the one cents from you pocket when you mix up with keys and all the stuff.

So, 99-sen a popular sales gimmick cannot be implement any more, then maybe Hypermarket need to figure out put like 95-sen to let consumers into believing that the prices of goods were low as a replacement for 99-sen gimmick. What an interesting move.

1 comment:

  1. the retailr still can put 99 cent price tag,
    according to bank negara 's FAQ, the reciept need to mention the rounded value.

    so it mean most of retailer POS need to be modified before april 2008

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