Prove promotional price compliance with timestamping
On may 28th 2022, the "Omnibus European legislation about Prices and Promotions" became effective to protect customers from deceptive or unfair pricing practices, such as price reductions that are not supported by economic reality.
The competent authority such as the General Directorate for Competition, Consumption and Fraud Control (DGCCRF) in France, does regular checks to make sure the new regulations are followed especially during special occasions likes sales periods, Black Friday...
If a business doesn't comply, penalties for "dubious commercial practices" may result in fines of up to €300,000 and imprisonment of its legal representative for up to two years.
Use Vaultinum timestamping to comply with the Omnibus regulation
If you are a company selling thousands or even millions of products on an e-commerce site, it can be extremely difficult to prove that the promotion applied to a product is a real discount, set against a reference price over the last 30 days.
Vaultinum equips e-commerce companies with an automated timestamping and archiving solution that allows them to certify and prove the date and time of thousands of data points, comparing the promotional prices to reference prices, and provides an irrefutable proof of compliance with the European Omnibus Directive.Our timestamping solution
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