Mission Market to get rid of pennies in New Year

Two Mission Market convenience stores in California namely Mission Market in Fullerton and Mission Market Express in Anaheim will no longer use pennies in cash transactions beginning January 1. Instead, the stores will round up or down the amount to the nearest nickel, reported Convenience Store News.

The c-store said that pennies reduce productivity as it slows down transactions and it takes times to fetch them from the bank.

They also actively use 2 bills, half-dollar and dollar coins as these speed up transactions.

“Transactions slow as customers dig them out from wallets and cashiers from tills. Yet when pennies are given as change, they are usually taken reluctantly, left on the counter or dropped on the floor or sidewalk,” said Mission Market.

Nonetheless, the c-stores will accept and give back pennies on request.  They also offer other payment possibilities such as Samsung Pay and bitcoins.

Roland Foss, president of Progressive Convenience Inc. and general manager of both Mission Market stores said his experience at U.S. Army posts in Germany can attest that this practice will work well.

"Our own U.S. military decided it wasn't worth shipping pennies overseas. Everyone did fine rounding up and down, no matter what the register said. I don't see it being a problem here either," said Foss.

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