Banks will raise the commission for card payments on the Internet

After October 1, the commission for the payments with bank cards in online stores will be increased, since the Central Bank did not add the effect of a preferential acquiring rate of 1%. Sberbank, VTB, Gazprombank, Russian Standard, Alfa-Bank, Credit Bank of Moscow and Otkritiye will return to the pre-crisis levels.

This is Reported by RBC.

In connection with the coronavirus pandemic, the Bank of Russia limited the commission for the example of bank cards to 1% of the cost of goods for online sellers. According to the representative of the Central Bank, this difficult decision helped the business during the crisis.

However, from October 1, payment systems will return interbank commissions to their previous level. This will increase acquiring costs, and if the rate remains at 1%, it will lead to losses.

We also note that acquiring expenses, along with lease payments and taxes, have become a significant part of entrepreneurs' expenses due to the drop in customer traffic.

Let us recall that the Association of Russian Banks indicated that the restrictions imposed during the pandemic would result in losses of 10-15 billion rubles.