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Merchant Acquiring Technology and Problems of Its Regulation in Russia

Author

Listed:
  • Alexey V. Maslov

    (Association of Banks of Russia, Moscow 119180, Russian Federation)

  • Yulia A. Maklakova

    (Financial Research Institute, Moscow 127006, Russian Federation)

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.

Suggested Citation

  • Alexey V. Maslov & Yulia A. Maklakova, 2020. "Merchant Acquiring Technology and Problems of Its Regulation in Russia," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 5, pages 75-85, October.
    • Handle: RePEc:fru:finjrn:200505:p:75-85
    DOI: 10.31107/2075-1990-2020-5-75-85
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    References listed on IDEAS

    as
    1. Kristina V. Shvandar & Anastasiya A. Anisimova, 2015. "Foreign Experience of Development of Cashless Payment System: Practice and Results," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 1, pages 91-98, February.
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      More about this item

      Keywords

      acquiring; acquiring fees; infrastructure of non-cash settlement and cash services; plastic cards; non-cash payment;
      All these keywords.

      JEL classification:

      • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
      • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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