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Ukraine’s trade area to be forced to receive cashless payments

Timetable for the introduction of e-payment until the middle of 2020 was published
17:25, 16 November 2018

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The Ministry of Economic Development and Trade of Ukraine prepared a draft decree of the Cabinet of Ministers with a new timetable of switching all enterprises in the trade realm to cashless payments. At the same time, simplification of procedures and possibility to use new payment services was provided. FinClub reports.

‘The existing schedule of switching the trade area to POS-machines became irrelevant in 2011. It was based on a timetable relied on the size of a settlement (up to 25,000; from 25,000 up to 100,000, over 100,000).

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It is noted that the Ministry of Economic Development and Trade published a new version of the draft. Now, the Ministry offers to establish new compulsory schedule beginning from the summer of 2019 and to link the steps of the schedule to the type of activity of an enterprise engaged in the trade of goods and services. The list of payment methods is expanding.

‘Businesses, which sell goods, including goods sold on a distance, are obligated to implement non-cash payment methods for the goods they sell via electronic means of payment using payment devices or electronic payment services,’ reads the draft decree.

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Until July 1, 2019, cashless payments have to be available in companies, which sell equipment subjected to warranty repair, excisable goods, jewelry, medicines, also companies providing housing and communal services, medical and dental equipment, travel agencies, restaurants, hotels.

Until January 1, 2020, cashless payments will be introduced in segments of car and motorcycle sales, including spare parts for them and their repair, rent of vehicles, postal and carrier services, all types of passenger and freight transportation, fitness centers, in the sphere of culture, health, insurance, reinsurance and private pensions.

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All payments over $1,800 have to be carried out precisely via cashless payment. The price of goods for cash or non-cash has to have any differences. Businessmen will able to rent one POS-machine for several places only if each of the subjects of businesses will provide a separate record of their operations.

Anti-Monopoly Committee of Ukraine will check the validity of the growth of bank charges.

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