Even if a business has switched entirely to payments with cards or apps and no longer uses cash, it is a breach of the so-called “cash rule” to turn away customers who wish to pay in cash.
According to the cash rule, shops and other merchants are obliged to accept cash payments between 6:00 and 22:00. However, shops in areas with a high risk of robbery may decline cash payments after 20:00, partly for employee safety reasons.
The survey confirms that cash is slowly disappearing from our society as a method of payment. As a bank, we want to help our customers adapt to this change and contribute to ensuring a smooth transition to a cashless society. For example, we’re focusing on offering new user-friendly payment methods, so no one is left behind.Niels Bang-Hansen
Head of Business Banking Denmark, Danske Bank
According to the survey, one in five SMEs are already offering their customers the option to pay with mobile payment solutions such as MobilePay. And almost as many say they are considering offering it. This is a development that MobilePay recognises. After a massive influx of new business customers last year, MobilePay is still acquiring up to 100 business customers a day. Currently, MobilePay counts 128,000 shops and webshops as customers in Denmark.
“To cater to the needs of private customers, businesses almost have to offer MobilePay, because customers increasingly expect to be able to pay with their mobiles. More than a third of our payments are now business payments, and the number will continue to rise,” says Torben Gamst, CEO of MobilePay, Denmark.