The Shift Towards Digital Payments: A New Era in Financial Regulation
As our society embraces technology, cash is becoming increasingly obsolete. Consumers find immense convenience in the ability to make transactions quickly and easily via mobile payments , reducing the need for physical cash . However, starting on January 1, 2026, the Treasury will impose more stringent regulations on payments executed with bank cards, marking a significant shift in how financial activities will be monitored.
Under the new guidelines, whenever a bank card accrues more than 25,000 euros in annual expenditures, financial institutions will be required to submit an annual informative return detailing these transactions to the Treasury. This regulation aims to bolster transparency and aid in fraud detection , ensuring that substantial capital movements are adequately accounted for.
Payments exceeding 25,000 euros must be declared. These changes are part of a broader regulatory modification enshrined in the Royal Decree 253/2025. The intent is to keep financial operations transparent and well-documented, as cash transactions become increasingly rare.
The scope is expanded. Previously, regulations mandated that businesses and professionals report card and Bizum transactions exceeding 3,000 euros annually. The new regulations extend the mandate to all card charges across any payment method, including both physical transactions and online platforms linked to phone numbers. This means that the guidelines will affect not just traditional credit or debit card transactions, but also extend to mobile payment systems like Bizum.
“Banking or credit entities, along with other organizations that offer collection management services through cards, including various functions such as cash, debit, credit, and electronic money, must comply,” the regulations explicitly state.
Differentiation between companies and individuals. The new norms delineate between transactions conducted by businesses and individuals. However, both types of entities must report any movements exceeding 25,000 euros annually. The updated rules eliminate minimum limits for self-employed individuals and businesses, meaning that all payments, no matter how small, must be conveyed to the Tax Agency. This change increases the scrutiny on commercial operations executed through card or mobile payments.
Conversely, individual consumers will only face exhaustive tax scrutiny if their card expenditures hit significant annual thresholds. For the average citizen, the challenge of navigating financial regulations is frequently less daunting.
What information is reported? According to Article 38ter, which modifies the new Royal Decree, financial institutions now have specific requirements when notifying the Treasury about cardholders and their expenses. Here’s what must be reported for individuals or entities that spend over 25,000 euros per year on card transactions:
- Contract number for the card issuance.
- Identification details of the contract holders, including name, tax identification number, country of residence, and date of birth for individuals. If unavailable, the passport number must be provided.
- Complete card number (PAN) and its type.
- Total number of subscriptions and cash recharges for the year, along with corresponding amounts.
- Total number and amount of spending operations made with the card annually.
- Identification of accounts linked to the card operation via their IBAN.
In Xataka | In 2030, we may not need to enter card numbers for purchases, as Mastercard is already working on alternatives.
Image | Unsplash (Nathana Rebouças)
As we move further into the digital age, the evolving landscape of payment methods compels regulators to adapt. The new transparency requirements reflect a growing emphasis on financial accountability , aiming to deter fraudulent activity while acknowledging the shift in consumer behavior towards digital transactions.