Merchants are obliged to ensure cashless payments by 2026
The Government of Ukraine has adopted Resolution 894-2022-p, which sets out the deadlines by which merchants must implement cashless payments, including through electronic means of payment. According to the new regulation, starting from 1 January 2023, cashless payment requirements will apply to merchants in settlements with a population of more than 25 thousand people, and by 2026, electronic payments should become mandatory for small entrepreneurs.
Source Verkhovna Rada of Ukraine
The Resolution also stipulates that in the context of hostilities or occupation, the requirements for cashless payments do not apply to traders operating in the relevant territories, as well as to those who trade under restrictions. It is worth noting that the previous Cabinet of Ministers' resolution of 2010 in this area has expired. The implementation of these regulations in Ukraine is aimed at simplifying financial transactions and reducing the volume of cash payments.
