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UBRD to Raise Acquiring Fees 25%

UrBC, Yekaterinburg, April 27, 2018. According to the Central Bank, the number of credit/debit card transactions rose by nearly 30% in Russia last year alone, with the overall transaction amount at RUR 41.8 trillion. The banking market experts are positive the growing POS terminal infrastructure is one key factor in this.

URBD analysts agree: the bank’s statistical data indicate that the number of their acquiring terminals rose by 21% in the course of one year. It is preliminarily estimated that the overall number will increase by another 25% by the end of this year.

According to the Ural Bank for Reconstruction & Development’s press service, these are mostly supermarkets, car repair shops, clothing stores, and fast food businesses that apply for an acquiring agreement most often. In terms of geographical distribution, businesses based in Sverdlovsk Region, Bashkortostan, Krasnodar Territory, Chelyabinsk Region, and Saint Petersburg are among the top terminal buyers.

‘Quite a few customers prefer to use their plastic rather than pay in cash. First of all, this is very convenient, and secondly, you can also benefit from your bank’s cash-bask options. Cashless payments are also good for businesses: if someone buys on an impulse, they are more likely to do so using their credit card; moreover, their borrowing options allow to buy a desired item on credit if necessary. According to our data, the average transaction amount almost doubles in the last year alone,’ says UBRD Corporates Development Director Elena Sorvina.
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