Refusing cash payment without just cause may be an infringement
INDECOPI noted that notes and coins issued by the Central Reserve Bank of Peru must be accepted in payment of any obligation, under Article 43 of the Bank's Organic Law (Decree Law No. 26123). Refusing cash without just cause may breach consumer protection rules.
The agency recently reviewed the case of a business in Chimbote that refused S/ 200 notes and concluded that the risk of counterfeiting did not justify refusing every note of that denomination.
Each case is assessed individually. A business may refuse a note that shows signs of counterfeiting, is badly damaged or has been withdrawn from circulation. Businesses may encourage cards and digital wallets, but may not impose them as the only means of payment.
Recommendation for businesses: review payment policies and train cashiers to refuse cash only when there is just cause.
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