Tools to be completely cash free

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Ten stores do fine without any cash in the stores. Now all 43 Norwegian Tools-stores will be completely cash free.

”We believe the time is right and the market is ready for cashless stores,” says CEO Jens Kristian Henriksen.

From 1 April 2016 it will no longer be possible to use cash as payment in all Tools AS-owned stores. 18 locally owned Tools departments will still accept cash

”Tools targets businesses and the professional market, and in our stores represents the cash sales now only 0.37 percent of turnover,” says CEO Jens Kristian Henriksen.

 

Ten shops in the Tools chain are already completely cashless. Experience with cash-free system from these stores are good.

”We have considered that cash free shops do not entail substantial additional expense or other inconvenience for customers in the segments which we orient ourselves towards,” says Henriksen.

43 Tools stores around the country will be cashless. Henriksen specifies that the cash means banknotes and coins. Bankcard will continue to be legal tender at Tools, besides the usual deal trade.

In Norway, there exists no requirement to accept cash as payment. Shops can freely create their own “general sales conditions”, such as payment must be made by credit card, says Tools in a press release.