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Senate passes Common Cents bill to phase out the penny

Original: Senate passes Common Cents bill The measure to provide merchants a cash rounding framework, and to formally phase out th

The US Senate has passed the Common Cents bill, legislation that gives merchants a framework for rounding cash transactions and formally phases out the penny. The measure now heads to the White House, where the president can sign it into law. Financial industry observers are tracking its implications for payments and retail.

Why now: The penny's elimination would change everyday cash transactions and retail payment practices nationwide.

US SenateCommon Cents billWhite House

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• Senate passes Common Cents bill The measure to provide merchants a cash rounding framework, and to formally phase out the penny, now heads to the White House. https://www. paymentsdive.com/news/senate-p asses-common-cents-bill/831629/ # FinTech # FinServ # Banking # Payments #… · AlexJimenez@mas.to · 1

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