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Entrepreneurs required to offer electronic means of payment as of July 1

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Bank branches closing their doors, a corona pandemic that made cash payments no longer desirable... it causes electronic payments to become more and more the norm.

In response to this evolution and as part of the fight against tax fraud, it has been decided that from July 1, 2022, entrepreneurs will be obliged to offer their private customers (consumers) at least one electronic payment method. But what exactly does this obligation entail and does it also apply to you?


As a business owner, do I have to comply with this requirement?

'Company' means:

All natural or legal persons pursuing an economic objective on a lasting basis, including their associations.

Thus, the obligation applies to all companies and is interpreted very broadly: traders, liberal professions, associations, etc., who carry out economic activities aimed at consumers on a permanent basis must comply with this obligation.

Barber, lawyer or library? All will be required to offer an electronic means of payment starting July 1.


What does this obligation entail?

As a business owner, you must provide at least one payment option other than cash. Electronic means of payment are included, but so are wire transfers. Examples of electronic means of payment include payment terminals (for debit and/or credit cards) and smartphone applications (such as Payconiq, Apple Pay or payment via a bank's app).

What are not considered electronic means of payment, however, are payments with crypto currencies and other virtual coins and payments with eco, meal and consumption vouchers (even if the payment is made with a card).

As an entrepreneur, you may choose which electronic payment option(s) to make available. However, it is not permitted to charge additional (transaction) costs to customers who want to pay electronically.

Failure to comply with this obligation may result in a criminal fine.



Electronic payments also have their advantages. First of all, it is much safer than cash payments: the less cash present in the business, the less attractive it is for money thieves and the less likely it is that counterfeit bills will be found.

It also increases the ease of payment and comfort for the customer and simplifies management as an entrepreneur.


Done with cash?

However, the obligation to provide a payment option other than cash does not preclude payment with cash.

Consumers will therefore still have the option to pay with cash, with the understanding that cash payments will, however, only be allowed up to an amount of 3,000 euros. Unless this limit is reached, cash payments may not be refused.


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