Status cashback on traceable payments: how does it work and when will it be active?
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The regulation has already been approved by the Privacy Guarantor, but it will still have to go through a few bureaucratic steps before being activated. Initially there will be an experimental phase by the end of the year, but full operation should take place as early as January. In the meantime, to benefit bars, shops and craft businesses in adopting the POS, the government is continuing to dialogue with operators to guarantee zero commissions of up to 5 euros in expenses and lower commissions on payments ranging from 10 to 25 euros. br>
When does the cashback program start?
In December the experimental phase of the so-called Bonus begins to encourage the use of credit cards and debit cards. From 1st to 31st December, to obtain the first refund, it will be necessary to make at least 10 payments in shops or physical merchants with cards or virtual payment applications. The cashback will arrive next February 2021 on the expenses of December and will have a maximum value of 150 euros, or 10% of the minimum monthly expenditure of 1,500 euros. The refund will automatically arrive in the current account of the participants in the initiative. Although at least 10 payments must be made via credit or prepaid cards, the ceiling for individual expenses is 150 euros and there is a ban on splitting payments to increase transactions.How does the reimbursement work?
The same spending and reimbursement limits will also apply in the following months starting from January, but this time they will have a half-yearly statement: cashback is expected in July 2021, January 2022 and July 2022, always 10% of the sums spent with digital payments and always up to a maximum of 150 euros per semester, therefore a maximum of 300 euros in a year. An anti-cunning measure is also envisaged, to avoid attempts to climb the ranking of the best payers with cards with few items purchased but very expensive: in fact, artificial splitting of payments referable to the same purchase from the same merchant is prohibited. br>The minimum required operations will be 50 to be spread in the first semester and another 50 for the second when the initiative is fully operational. Yes, coffees paid for at the bar with electronic money also count. In fact, the objective is to combat the circulation of cash to reduce tax evasion.
Who can participate in the initiative?
To participate in the cashback program of the Ministry of Economy, you must be of age , be resident in Italy, declare that the registered cards are used only for purchases outside the business, profession or art activities and it is necessary to register on the IO app of the Public Administration thus exploiting the payment systems made available by the operators affiliated with PagoPa. It is compulsory to provide your tax code via Spid, the details of one or more cards and the Iban, since the refunds will automatically arrive on your current account.The ministerial program will start in December, but the refund will take place in February. Membership is voluntary and can be revoked at any time, but the accumulated points will be lost. Once registered on this platform, payments with cards and digital systems will be calculated for the purpose of reimbursement and to participate in the final prize for those who have used the cards most often.
What is this for cashback program?
It is an initiative financed by the Ministry of Economy that benefits from the fight against tax evasion through the incentive of bonuses and rewards for those who use electronic payments. The new program will guarantee economic benefits since consumers who will use more cards and applications for electronic payments, will have the possibility to set aside a small monetary sum of up to 3,300 euros in a year.This figure goes added the prizes of the Lottery of Receipts, ie annual, monthly and certainly weekly prizes based on the electronic code of the receipt and a final draw with a prize pool of 50 million euros complete with a final prize of 5 million euros.
How can you pay?
Participation in the initiative is necessary to encourage the use of electronic money during physical purchases in shops or businesses. In fact, online shopping is excluded from the incentive. Payments can be made via credit or debit cards, debit cards, bank transfers, but also apps installed on your mobile phone (such as Apple Pay, Samsung Pay or Satispay).How does the super prize work?
As mentioned above, together with the reimbursement mechanism of 10% of the expenditure, a super premium of 3,000 euros per year will be added which will go to the 100,000 citizens who will use electronic money the most. There are no minimum spending thresholds, it will be sufficient to simply use these electronic payment techniques as much as possible even for small but frequent expenses.For the ranking, in fact, the operations performed and the achievement of the minimum threshold of 3,000 euros per year. So, in other words, 5 coffees will be the same as 5 smartphones, the important thing is that the minimum ceiling is reached in order to be among the 100,000 virtuosos. The ranking can be viewed in real time through the IO application.
How does the Receipt Lottery work?
From January 1st 2021 the Receipt Lottery will also start and will be linked to the receipts electronic tax mandatory from the beginning of next year. To participate, you must always be of age and resident in Italy and all purchases of goods and services for amounts equal to or greater than 1 euro will participate in the draw. Each payment valid for the draw must be linked to the so-called lottery code, that is a QR Code to be requested on the Lottery Portal created by the Customs and Monopoly Agency.The prize pool is 50 million euros with singles prizes that can reach up to 5 million euros. The lottery also provides for ordinary drawings valid also for purchases made with cash and zero cash drawings for those who pay with electronic money. The latter will be able to participate in both draws which will be annual, monthly, but certainly also weekly.
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