banks and marketplaces opposed new players in the payment market – Kommersant

The Association of Banks of Russia (ADB) sent a letter to the Ministry of Finance, the Ministry of Digital Development and the Ministry of Economic Development, in which it opposed granting new players the right to accept payments. A similar letter was sent by the Association of Internet Trade Companies (AKIT) to the Central Bank, the Ministry of Finance and the Ministry of Economic Development. I have read the copies of the letters RBC. In 2022, the Central Bank took the initiative to expand the list of organizations that have the right to provide payment acceptance services.

According to the publication, the ADB opposes the bill, since the emergence of new players could lead to risks of fraud in the national payment system and a decrease in the quality of payment services. ADB also believes that due to the inexperience of companies, the pace of development of electronic commerce may slow down, and the rights of citizens and organizations will be at risk.

AKIT, in turn, proposed not to abandon the Central Bank’s initiative, but to “further study” it. A representative of the organization told RBC that AKIT is “in working contact” with the Central Bank on this issue.

In 2022, the Central Bank developed a bill introducing the institution of a non-bank payment service provider. According to the project, not only banks will be able to accept payments, but also fintech companies, insurers, brokers, microfinance organizations, non-state pension funds, pawnshops, etc. It is planned that the Central Bank will supervise these organizations. The initiative has not been submitted to the State Duma, but has been repeatedly discussed with market participants, including the ADB. A representative of the Central Bank told RBC that ADB supported the project.

Read about the market situation in the material “Fast payments have gone shopping”.

Polina Motyzlevskaya