The Ministry has prepared a schedule of mandatory acceptance of Bank cards in all stores

All businesses from July 2019 will be obliged to carry out cashless payments. The Ministry of economic development and trade has developed a draft resolution of the Cabinet with the new schedule of transfer.

On 14 November the Ministry published a new version of this project.

So, the Ministry proposes to establish a mandatory schedule, since the summer of 2019. Stages of transition to the new payment method will depend on the activity of the enterprise. List of cashless payment methods is expanding.

“Subjects of managing who carry out sale of goods (provision of services), including goods (services) sold remotely are obliged to ensure the possibility of cashless payment for sold their goods (provided services) with use of electronic payment means using a payment device or electronic payment services”, — stated in the draft decision.

It is noted that the current schedule of transfer of the trade to POS-terminals were no longer relevant in 2011. It was based on a schedule that was based on the size of the settlement (up to 25 thousand; from 25 thousand to 100 thousand, over 100 thousand people).

Under “means of payment” refers to a POS terminal. Their presence was required by the resolution 2010. Already in the January draft of the resolution was an alternative: “payment devices and/or services.” The November project officials elaborated on what other methods of cashless payment can be an alternative to POS terminals.

“Electronic payment services”, according to the November draft decision that: “online payment services, mobile applications, Internet-banking and transfer to the account of a business entity that provides money transfers around the clock”.

The timing of the project

Until July 1, 2019 non-cash payments are required to begin accepting companies that sell the equipment subject to warranty repair, excisable goods, jewelry, medicines, provide housing services, medical and dental, travel agencies, restaurants, hotels.

Until January 1, 2020, payments will go to the segments of sales of automobiles, motorcycles and spare parts, repair, lease vehicles, postal and courier activities, all kinds of passenger and cargo transportation, fitness centers, in the sphere of culture, health care, insurance, reinsurance and private pension provision.

Until July 1, 2020, payments are obliged to accept everyone who sells goods and services costing more than 50 non-taxable minimums (850 UAH).

Only cashless need to hold all payments in excess of 50 thousand UAH. The sale price of goods or services for cash should not be different. Businesses will be able to rent one POS terminal to several institutions, but only if each entity will provide separate accounting of their operations.

AMC, as before, will test the validity of the increase of banking fees.

Recall that in January of 2018, the Ministry has already published the draft resolution of the Cabinet with the new schedule (from July 2018 to January 2020), linked to the system of taxation of commercial enterprises (General system of taxation and of groups of single tax payers). However, the Cabinet document and was not accepted.

It should be noted that dOlya-cash payments in Ukraine has decreased in terms of volume and number of transactions in the second quarter of 2018 compared to the first quarter.

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