Slovakia Introduces Mandatory Electronic Payment System for All Retailers

Slovakia implemented a new requirement on May 1st mandating that all retailers must offer electronic payment options for transactions exceeding one euro. The regulation applies to all merchants, including small vendors and market stall operators who previously relied solely on cash transactions. The government prepared a low-cost QR code payment system to help businesses comply with the new rules, with thousands of entrepreneurs already adopting the technology by the end of April. Merchants who fail to offer electronic payment options to customers face significant financial penalties under the new system.