Ministry of Economic Development of the Russian Federation
Ministry of Economic Development of the Russian Federation
The Ministry of Economic Development considers it important to work out the issue of reducing acquiring for SMEs
18 August 2020 14:46

"The fee for acquiring carries an additional financial burden for businesses, primarily for beginning entrepreneurs. Thus, the reduction of fees will help reduce the costs of entrepreneurs, as well as increase the transparency of their financial flows.

At the same time, the restriction of acquiring fees may negatively affect the terms of service of citizens who hold Bank cards, namely, lead to the refusal of issuing banks to provide customers with free services, including the issue and maintenance of payment cards, lead to a reduction in loyalty programs, and an increase in existing fees. This, in turn, may lead to a decrease in incentives for citizens to use non-cash payment methods.

If the commission fee is reduced, credit institutions may be forced to find ways to return lost profits at the expense of other services, which may negatively affect other consumers.

Thus, working out the issue of reducing the acquiring commission for SMEs is important and requires a balanced approach, taking into account the opportunities for developing competition in the field of payment services, while reducing costs for entrepreneurs" - Ilya Torosov.

Дата публикации: August 18, 2020
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