Photo: Valery sharifulin / TASS
Retailers have warned banks and payment systems on prices because of high interest rates, the acquiring (payment for goods by Bank cards). About this newspaper “Izvestia”, citing a letter from the Association of retail companies (ACORT) to the Association of Russian banks (ADB).
As specified in document, due to the high rates of acquiring retailers in 2018 fell short of 7.4 per cent of profit in 2019, they predict a loss of 10 percent.
High commissions that banks take, according to retailers, forcing them to raise prices, and will negatively affect the program discounts. According to representatives of Commerce, Bank card payment costs them four times more expensive than cash.
In the first quarter of this year, the share of cash payments began to increase, although the 2018 growing non-cash payment. The share of card payments by March 2019 fell four percentage points to 36 percent. The maximum increase in the cash payment was recorded in clothing stores and hotels (+ four percent) and clubs and groups (+ one cent).
Video, photo All from Russia.