Slovakia is developing a fully state-controlled QR payment system in partnership with the Slovak University of Technology, aiming to lower merchant costs and reduce reliance on private payment providers. The system will support real-time tax monitoring and transparency, with expected savings ranging from hundreds to millions of euros annually for businesses, while likely becoming a mandatory payment option for merchants.
Slovakia plans to develop a state-controlled QR payment system for merchants.
Public
Slovakia
Author: Nikolina Basić
Category:
Fiscal subject related
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273
Content accuracy validation date:
02.06.2025
Content accuracy validation time:
08:27h
The Financial Administration of Slovakia has partnered with the Slovak University of Technology (STU) in Bratislava to develop a state-controlled QR payment application. The goal is to reduce transaction costs for merchants and enhance payment autonomy. Unlike conventional cashless payment systems, this initiative will exclude commercial third-party involvement, ensuring a fully state-managed solution.
The authorities state the introduction of QR payments is expected to bring substantial financial benefits to merchants. (Small businesses could save €400 per year, restaurants may cut costs by €3,500 annually, hotels could benefit from €5,500 in savings, and large retail chains stand to save millions of euros by reducing card transaction fees.)
While the QR payment system will not be mandatory for Slovak citizens, merchants will probably be obliged to provide the option for cashless transactions using QR codes. This ensures wider accessibility and modernization of payment processing across industries.
The new QR payment system is not only designed for financial efficiency but also plays a crucial role in combatting tax evasion. Through real-time payment notifications, authorities can improve tax collection and transparency in business transactions. More regulations, information, and obligations will be introduced.
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