Slovakia's Financial Administration reports QR payments save merchants up to €10,000 annually

The Slovak Financial Administration announced that the QR‑code payment service, launched on 1 May, has processed more than 224,500 transactions in just under three months, amounting to over €9 million in total value (average €40.60 per payment). The agency estimates that merchants can reduce fees by hundreds of euros per year for small shops and by several thousand euros for hotels or larger retailers, depending on turnover, the share of payments shifted to QR codes and the terminal‑provider pricing.

A spokesperson, Daniel Kováč, explained that “QR payments are not merely another technological novelty. Smaller operators may save a few hundred euros annually, while hotels or large retailers handling €1.2 million in cashless sales could save between €8 000 and €16 000 per year.” Savings calculations were illustrated for a small shop processing 100 payments of €20 each, a medium retailer processing 300 payments of €25, and a seasonal vendor, showing varied potential savings based on fee structures (1.95 % or 0.99 %).