News

What is a "payment instrument"?

20 december 2021, Monday

New legal regulations of the "Polski Ład" obliges entrepreneurs to make cashless payments available to customers by means of a "payment instrument". What is a "payment instrument"?

A payment instrument is a mean of payment other than banknotes or coins. It allows, alone or in combination with another payment instrument, to transfer money or cash values.

Payment instruments include:

payment cards with a terminal,
electronic transfers,
mobile payments,
checks, bills of exchange.