New POS Software Supports End of Penny Circulation

pcAmerica has released a version of their software that supports a cash rounding feature to help support Canada ending the circulation of the penny. On February 4th, the Canadian Mint stopped circulating the penny to financial institutions, marking the beginning of the end of the penny in Canada. Retailers have been encouraged to send back any pennies that they currently have on hand. Although the penny is only valued at 1 cent, it costs 1.5 cents to produce in Canada. Ending circulation of the penny will save the government $11 million a year.

 

pcAmerica has released a version of their software that supports a cash rounding functionality for Canada. Cash Register Express™ (CRE), a retail point of sale (POS) system that helps increase efficiency and accuracy, lower operating costs, and helps you manage your inventory and Restaurant Pro Express™ (RPE), a touch screen restaurant POS system that provides fast operation, accurate order taking and detailed reports with an easy-to-use interface will both automatically round the transaction amount to the nearest nickel. For example, if the cash transaction total is $1.03, CRE™ and RPE™ will swiftly bring that total to $1.05, eliminating the need to pay or make change with pennies. The new feature conforms to the regulations defined by the Canadian government.

 

Canada isn’t alone. They followed Sweden, the Philippines, Australia, Brazil, Mexico, and Hong Kong as countries that have gotten rid of the penny. Politicians in the United States have also discussed the possibility of eliminating the penny because it currently costs 2.4 cents to produce.