Numerous sectors performing economic activity in Cyprus
are now legally obliged to introduce card payment.
The introduction of the electronic credit card machine in most
business sectors is undoubtedly big and great news for Cyprus. On
the 18th of June 2021, the Cyprus Official Government Gazette
published the Decree on Confirmation and Collection of Taxes
(Details on the Enforcement of the Obligation to Accept Payment by
Card) 2021 of the Cyprus Ministry of Finance (Issue No 5548) .
According to this Ministerial Decree industries including the
retail merchant services, entertainment and hospitality, education,
legal, financial, medical services, gambling and many more
industries are not only legally obliged to introduce credit card
machines to their businesses but are also obliged to notify clients
that they accept both payment via cash and credit card from the
18th of September this year.
