Why is acquiring expensive and the cost of services reaches up to 3%?
One of the urgent problems of modern business is expensive acquiring. On the one hand, the state requires consumers to be able to pay with debit card for goods and services. On the other hand, the fees for acquiring are not regulated by any legislative acts. Russian retailers and refuellers appealed to the Ministry of Finance with a request to deal with the tariffs for acquiring. Naturally, banks that install their POS-terminals at points of sale should have a profit from their services, but also profit from entrepreneurs is also wrong. Therefore the commission in one and a half – two percent at gas stations is called by representatives of business unacceptable.
For comparison: in a number of European countries acquiring costs between 0.2 and 0.3 per cent. In Russia, this indicator reaches 3%. Therefore, it is very common to observe pictures of allegedly “idle terminals” or requests to pay in cash. In general, the scheme works like this: the buyer pays by card at the sales outlet. Working with the retailer the bank charges a commission from the business, which transfers to the payment system. A certain part of the earned funds remains with the bank as a fee for services. Basically, the financial institution provides entrepreneurs with package services, which includes cash services, salary projects and loans. And also it provides ATMs and cash-in-transit services.
Of course, Russian businessmen would like to have rates for acquiring similar to European ones. But, unfortunately, this is not possible: is associated with increased risks.
This indicator is also calculated by international payment systems. Therefore, risks are taken into account in the cost of transaction services.
Acquiring is expensive in Russia. But in general payment systems earn a little on the service
In Europe, antitrust committees of some countries have agreed with payment systems on favorable commissions. Visa and MasterCard cooperate with the state authorities. MasterCard’s net profit in Russia is about RUB 2 billion, which is very small for such a large market. Visa reported an even lower amount — RUB 370 million. In general, it is much lower than in other countries of the world such as India, China, the USA and EU states. Regulation of this issue may lead to the withdrawal of Visa and MasterCard from Russia. But this scenario is unlikely.
Meanwhile, it became known that the Supreme Court of the State of New York ordered retailers to lay the payment for acquiring on the shoulders of consumers. Until February 2019, the decision on who will pay the commission was made locally. Also the end consumer pays for the services of banks and payment systems in countries such as Australia and the United Kingdom.