Opinion of the European Central Bank of 26 September 2025 on the mandatory acceptance of cashless payments by sellers (CON/2025/30)

OPINION OF THE EUROPEAN CENTRAL BANK Of 26 September 2025 on the mandatory acceptance of cashless payments by sellers (CON/2025/30) Introduction and legal basis

On 21 August 2025 the European Central Bank (ECB) received a request from the Minister for Finance of the Slovak Republic for an opinion on a draft law on the registration of sales (hereinafter the ‘draft law’). The ECB’s competence to deliver an opinion is based on Articles 127(4) and 282(5) of the Treaty on the Functioning of the European Union and Article 2(1), second indent, of Council Decision 98/415/EC , as the draft law relates to means of payment. In accordance with Article 17.5, first sentence, of the Rules of Procedure of the European Central Bank, the Governing Council has adopted this opinion.

1. Purpose of the draft law

1.1 The draft law recodifies the legislation on online and virtual cash registers and proposes a new type of cash register known as a software online cash register (hereinafter, together, ‘e-cash register’ (eKasa)), which must be used by sellers to register revenue when selling goods or providing services. The overall purpose of the draft law is to reflect new trends in the registration of sales revenues, and to support the fight against tax evasion . 1.2 The draft law introduces, inter alia, an obligation for sellers to enable buyers to make cashless payments for goods and services for any sale exceeding EUR 1 in value as of 1 March 2026 . This obligation is considered to be fulfilled when the seller accepts as cashless payment the use of a ‘payment instrument’, which is defined as any personalised device and/or set of procedures agreed between the payment service user and the payment service provider, and used in order to initiate a payment order, including but not limited to a payment card, internet banking or any other electronic banking payment application . 1.3 The draft law provides that when a cashless payment is made using a payment instrument that allows scanning of a payment order in the form of a QR code, the Financial Directorate of the Slovak Republic (hereinafter the ‘Financial Directorate’) will provide the technical means necessary to enable the e-cash register to obtain confirmation of such cashless payment. If, when making such a

cashless payment, confirmation of its execution is not provided, the e-cash register will print a document confirming this fact. The draft law requires the Financial Directorate to determine and publish on its website the technical details of the technical means that will enable the e-cash register to obtain confirmation of the cashless payment and the particulars of the non-confirmation of a payment. The technical means for cashless payments may also be provided by third parties independently from the Financial Directorate . 1.4 Sellers are exempted from the obligation to enable buyers to make a cashless payment if: (a) they are exempted from the mandatory use of an e-cash register ; (b) they have permission to postpone sending data to the e-cash register ; or (c) at the time of payment for the sale of goods or the provision of a service there is (i) no internet connection available at the point of sale, or (ii) a failure of the technical means provided by the Financial Directorate or by a third party to confirm the processing of a cashless payment . 1.5 The draft law envisages that a second breach of a seller’s obligation to enable buyers to make cashless payments will be subject to a fine ranging from EUR 500 to 15 000 . Any further breach would be subject to a fine ranging from EUR 1 000 to 30 000 .

2. Observations

2.1 The ECB views further innovation and development in the field of electronic payment instruments and their further spread in society positively and recalls the Eurosystem’s support for the full deployment of instant payments . Therefore, the ECB welcomes the draft law in terms of its goal to contribute to the development of instant payments in Slovakia. At the same time, given the lack of technical details on the concrete implementation of the draft law, the ECB is unable to opine on the feasibility of the intended solution for instant payments. The ECB recommends that the specific details of the technical solution for cashless payments that is to be facilitated by the e-cash register, including any need for the establishment of accounts with payment providers and related fee structures, is made known to the sellers well in advance of the entry into force of the draft law, obliging them to accept cashless payments. 2.2 The ECB understands that the intention of the Slovakian Ministry of Finance is to oblige sellers to accept at least one means of cashless payment, and that the choice of acceptable means of cashless payment will lie solely with the seller . However, the text of the draft law is unclear in this respect and may also lend itself to the interpretation that the buyer is entitled to use any payment instrument

of its choice. Such an interpretation would, however, be tantamount to the introduction of a requirement for the mandatory acceptance of all payment instruments and could, in the case of noninstant payments, involuntarily expose sellers to credit and settlement risks. Therefore, the ECB recommends that the draft law should be amended to expressly clarify that sellers discharge their obligation to enable buyers to make cashless payments by accepting at least one means of cashless payment of each individual seller’s choice. 2.3 The ECB understands that the draft law introduces an obligation for sellers to enable buyers to make cashless payments, but does not limit the ability of buyers to continue paying for goods and services in cash. In this regard, the ECB stresses that sellers are generally obliged to accept cash as a means of payment for goods and services, as euro banknotes and coins have legal tender status, and their continuing acceptance plays an important role in society .

This opinion will be published on EUR-Lex.

Done at Frankfurt am Main, 26 September 2025.

[signed]

The President of the ECB

Christine LAGARDE