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 also 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. While it will save the government $11 million a year, how will businesses handle no longer having pennies? With the nickel now being the lowest coin currency, how will they handle a bill that suggests they give 3 cents back on cash transactions?

Thankfully, on March 1st, pcAmerica is releasing 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 allow staff members to easily enter the transaction amount and round to the nearest nickel, dime or dollar. 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 with a penny.

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. If the U.S. chooses to end circulation of the penny also, companies with Cash Register Express™ or Restaurant Pro Express™ will be well-equipped for the new normal.

To learn more about pcAmerica products, visit www.pcamerica.com.