Italian parliamentary panels approve cap on meal vouchers
ROME, Nov 21 (Reuters) -Two Italian parliamentary committees have approved a measure capping the fee that meal voucher issuers can charge to merchants at 5% of their face value, a parliamentary document showed on Thursday.
The proposed cap had sparked criticism from French vouchers and benefit cards provider Edenred EDEN.PA, which last month said it was ready to challenge the legislation at the Italian administrative court.
Put forward as an amendment to a bill aimed at boosting competition, the measure late on Wednesday received preliminary backing from the industry and environment committees of the lower house of parliament, according to the document.
The bill still needs several approval steps before entering into force.
Meal vouchers are commonly provided by employers as part of staff remuneration.
The Italian lawmakers reviewed the initial text to envisage a gradual phasing-in of the 5% cap.
Once the legislation comes into force, the new regime will immediately be binding for merchants which are not bound by any agreement with meal voucher issuers.
As of Sept. 1, 2025, the cap will also apply to existing accords. By that time, voucher issuers will also have the faculty of withdrawing from already signed contracts "without compensation or charge" under the amendment.
Edenred said the cap would run counter to the principle of freedom to set prices set out in Italian and European commercial law.
Retail association Confesercenti said in a statement the cap was a "major achievement that makes it possible to guarantee the benefits of the meal voucher, without harming merchants who today pay up to 20% in fees."
Reporting by Giuseppe Fonte
Editing by Bernadette Baum
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