International payment system Visa has sharply reduced the interchange on payment for orders in fast-food restaurants from September 1 to 0.5% for all cards, said "Kommersant".
Previously, the commission for the majority of cards was 0.95%, while for premium cards it was up to 2.35%, now the commission is operating at 0.5% with the only condition - the amount of the check should not exceed 500 rubles. Thus, Visa has equalized the street fast food with the major fast food restaurants, for which the 0.5% rate has been in force for more than a year.
Roman Prokhorov, head of the Financial Innovations Association, explained to the publication that interchange is one of the key elements in regulating the activity of participants in the payment system. According to him, the increase in commission follows the growth of card issuance, as the issuing bank receives in this case, a higher income. Reducing the interchange stimulates acquiring banks and merchants to develop card transactions through the opportunity for banks to reduce fees while maintaining or increasing margins, he said.
Experts note that Visa's actions are due to the prediction that with rising inflation, many consumers will turn more actively to street fast food, so the payment system is interested in the growing segment of traffic to move from cash to cashless. This is possible by encouraging acquirer banks to more actively offer small fast food businesses to accept cards at low rates, they believe.
Made in Russia // Made in Russia
Author: Karina Kamalova