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CB temporarily restrict Commission payments with medical services

The Bank of Russia from 1 June to 30 September limits the acquiring of a fee for payment of medical services by level of 1%.

According to the regulator, the decision will reduce the fee by more than 1.5 times the current level. Limit fee applies to clinics and hospitals, medical labs, emergency care and licensed physicians engaged in General or specialized medicine.

The debate about the regulation of acquiring commissions do not cease since, as in February last year, Russian President Vladimir Putin criticized the high cost of this service, calling it "casinoroom".

After that, decisions were made to limit interbank compensation, one part of the acquiring fee, for a number of socially important goods and services. However, given the coronavirus pandemic of the professional community returned to this subject in connection with the need to support participants of the payment market.

In particular, the business Ombudsman Boris Titov suggested to support the economy during the period of the coronavirus to reduce the fee for acquiring services for all sectors of the trade to 1%. And at the end of March the chamber of Commerce appealed to Prime Minister Mikhail Mishustin with a request to reduce the cost of acquiring in Russia on average by 25-50% depending on the specific sales and service segment.

In turn, Russian banks oppose further restrictions acquiring commissions. In their opinion, this will lead to the need to subsidize their acquiring business and will divert funds from other priority sectors.

In the case of the introduction of administrative regulation of the Commission, the acquiring banks will be forced to change business model and to refuse to work under the key, pointed out in a letter to Mishustin Association of Russian banks. Part of the costs will be passed on to merchants. Most in this situation affected small and medium businesses, and will benefit from lower fees for acquiring only the big retailers, warned the Association.