Merchant Acquiring Technology and Problems of Its Regulation in Russia

Alexey V. Maslov () and Yulia A. Maklakova ()
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Alexey V. Maslov: Association of Banks of Russia, Moscow 119180, Russian Federation
Yulia A. Maklakova: Financial Research Institute, Moscow 127006, Russian Federation

Finansovyj žhurnal — Financial Journal, 2020, issue 5, 75-85

Abstract: This paper examines the evolution of merchant acquiring in Russia. Initially, the term was purely professional and meant the involvement of “service points” in accepting cards. Today it denotes the whole range of business for the creation and development of the infrastructure of non-cash settlement and cash services in trade and service enterprises using payment cards. Technological innovation has spurred the development of acquiring tools. However, today, when the number of non-cash transactions is steadily growing and has almost reached the number of transactions using cash, the issue of acquiring fees is still a burning issue between retail and banks. The authors consider the positions of the two parties to the dispute, and also draw conclusions about the possible consequences if the requirements of retail or banks are satisfied.

Keywords: acquiring; acquiring fees; infrastructure of non-cash settlement and cash services; plastic cards; non-cash payment (search for similar items in EconPapers)
JEL-codes: G21 G23 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:200505:p:75-85

DOI: 10.31107/2075-1990-2020-5-75-85

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