New benefits for Romanian employees: Edenred launches cultural vouchers and digital gift vouchers
- Oana Badea
Long-awaited, since the end of 2018, cultural vouchers and digital gift vouchers have become reality in Romania today: Edenred Romania has been licensed to issue digital gift vouchers and cultural vouchers.
Cultural vouchers are a whole new benefit, which is aimed at bringing culture closer to Romanian employees and their families. Digital gift vouchers are the modernization of an already existing and widely used benefit, being offered on a gift card in a classic, paper-based gift.
Edenred obtained the authorization for the issue of cultural tickets in Romania on 24th May 2019 and will issue such vouchers both on the card and on paper.
Cultural vouchers can be offered to all employees by employers on a monthly basis, in the amount of 150 lei per employee, and occasionally in the amount of 300 lei per event. The cultural vouchers thus offered are exempt from social charges for both companies and employees, subject only to 10% of the employee's income tax. Cultural vouchers are deductible within 5% of the value of personnel wage costs.
With cultural vouchers, employees will be able to pay for cultural goods and services from a wide range of addresses. "Edenred vouchers and cultural cards will open doors for hundreds of thousands of employees to shows, concerts, cinemas, museums, festivals, fairs and exhibitions, themed parks, books, school textbooks, musical albums, conferences, language classes, piano/robotics/astronomy/history lessons ... the palette of choices opens new horizons of knowledge for all. Culture can become a daily habit." says Dana Sîntejudean, CEO of Edenred Romania & Moldova.
Cultural vouchers are a long-awaited and necessary solution, given that culture and leisure activities occupy so far a very limited place in the average spending of Romanians, accounting for only 3.9% of the total monthly expenses. Also spendings in education represent only 0.7% of the monthly expenses of Romanians, according to the latest INSSE reports, for the fourth quarter of 2018.
"Vouchers and cultural cards will eliminate some of the financial barriers that limit employees' access to cultural activities. At the same time, cultural vouchers will help companies build a healthy work environment, support the professional and personal development of employees, and invest in employees' well-being. Investing in culture is the most profitable choice for social and economic progress." adds Dana Sîntejudean.
Edenred has already developed a network of partners where you can use cultural cards and vouchers at a national level, starting partnerships to cover all types of cultural products and services.
Edenred partners include Cărtureşti, Bilete.ro, Libris, Librarium, as well as ticketing platforms such as www.eventbook.ro, www.myticket.ro, www.bilete.ro or www.entertix.ro, with hundreds shows, concerts and events in the offer, from Untold or Electric Castle to Summer Magic or Gaşca Zurli.
When it comes to digital gift vouchers, they can be offered to employees and their minor children in the amount of 150 lei per beneficiary, for Easter, Christmas, 1st of June and March 8th. Gift vouchers granted to employees are exempt from social contributions and income tax and are deductible up to 5% of the salary costs. They can also be used in marketing, promotion, or protocol programs.
Edenred digital gift vouchers can be used in over 4,000 merchant parteners across the country, covering both independent and large retail chains, hypermarkets, fashion, electro and IT, jewelery, cosmetics, and more.
"Digital gift vouchers are a big step forward in employee motivation and reward programs. Edenred issues gift vouchers for thousands of companies and hundreds of thousands of their employees for 15 years, and the job market is ready for digital solutions. Gift vouchers are on the 4th place in the top of the extrasalary benefits provided by companies in Romania, so their digitization is very good news. Romania's new work, consumption and living habits required a digital solution to make their lives easier, and now we have this solution. Digitization allows us to connect companies more quickly with employees and traders, into a modern ecosystem that everyone wins." says Dana Sîntejudean.
Edenred is the world's leading provider of payment solutions for the world of work, connecting 830,000 customer companies, 47 million employee users and 1.7 million partner traders from 45 countries.
In Romania, Edenred serves more than 35,000 customer companies and over 1,500,000 users for meal cards and vouchers, gift vouchers, holiday vouchers, social vouchers, and business prepaid cards.
Edenred, the global leader in payment solutions for the working world, connects 830,000 corporate clients, 47 million employee users and 1.7 million partner merchants across 45 countries. Thanks to its global technology platform, the Group managed 2.5 billion transactions in 2018, primarily carried out via mobile applications, online platforms and cards, and representing more than €28 billion in business volume.
Edenred’s 8,500 staff are driven by a commitment to improving employees’ quality of life, increasing companies’ efficiency and boosting merchants’ revenues. They achieve this through three business lines:
- Employee Benefits (food, meals, well-being, leisure, culture and human services)
- Fleet & Mobility Solutions (fuel, tolls, maintenance and business travel)
- Complementary Solutions, including Corporate Payment Services (virtual payment cards, identified wire transfers and supplier payments), Incentives & Rewards (gift cards and platforms, and incentive programs), and Public Social Programs.
Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC Next 20, FTSE4Good, DJSI Europe and MSCI Europe.