Six-Month Deadline for Companies to Establish Compliant Electronic Payment Systems

TLDR

• The Electronic Transactions (Mandatory Electronic Payments for Specified Transactions) Order, 2026, that took effect on July 1 this year, prohibits cash payments for a range of transactions such as public transport.
• Companies in these sectors have six months to establish compliant electronic payment systems.
• Digital payments worldwide are fundamental to digital commerce, supporting e-commerce, online travel bookings, electronic ticketing, ride-hailing and digital government services through secure electronic payment systems.
• Small restaurants, market traders, informal transport operators and rural businesses often lack the financial resources or technical expertise needed to set up compliant electronic payment systems within the six-month.
• Critics argue these policies limit consumer options, as electronic payment systems can experience outages, technical failures or cyberattacks, potentially disrupting business when cash isn’t an option.