Merchant Acquiring Technology and Problems of Its Regulation in Russia
Технология эквайринга и проблемы его регулирования в России

A.V. Maslov, Association of Banks of Russia, Moscow 119180, Russian Federation, Yu.A. Maklakova, Financial Research Institute, Moscow 127006, Russian Federation
2020 Financial Journal  
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
more » ... s 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.
doi:10.31107/2075-1990-2020-5-75-85 fatcat:axhvvhkulfguvdy4agbsr3k7te