Starting from February 1, 2022 Visa payment system will increase commission fee for payment for purchases in stores. According to RBC, it will be increased from 1 to 1.3%.

Visa said that the reduced rate for large supermarkets will remain the same (0.5%), but since September 1, 2021, premium cards Visa Platinum Business and earlier - Visa Signature premium cards will be excluded from it.

In addition, the incentive programs for stores with high sales volumes will be eliminated in three phases.

From July 8, 2022 - for furniture stores that sell household goods, construction materials and products for gardening, from August 5 - for the home appliance stores, and from September 30 - for the courier services. Now the benefits for them are set at 1-1.65%. After the changes it will depend on the category of the card, by which the payment is made, and will range from 1.5% to 2.3%.

Also, since April 2022 the service fee to the Fund for the Development of Visa will be increased from 0.0055 to 0.01% of the total turnover on cards. It will be established both for issuing and acquiring banks.

Made in Russia / Made in Russia

Author: Maria Buzanakova