Oschadbank, Privatbank, and Raiffeisen Bank Aval have agreed to gradually reduce the interchange (interbank commission) to 0.9% by July 2023. In particular, banks have called on the parliament to abandon the market regulation of the commission for acquiring (the use of cards to pay for goods).
In particular, banks are proposing to reduce the interchange commission to a maximum of 1.2% from 1 July 2021 to 1% from July 2022 and to 0.9% from July 2023. The joint message has been published by the press service of Privatbank.
At the same time, banks have emphasized the inadmissibility of legislative regulation of the acquiring commission. After all, this will prevent the preservation of free market pricing in Ukraine.
In addition, the same position is supported by the payment system Visa. The company has told the agency Interfax-Ukraine about this.
The company has stressed that it is important to refrain from administrative regulation, and it supports the call to withdraw proposals to the relevant draft laws that provide for the establishment of the ceiling of the acquiring commission and the interchange rate.
Context. A draft law № 4364 is being prepared for the second reading in the Rada It should limit the banking commission. Oleh Gorokhovsky, the co-founder of monobank, hinted that the draft law would most likely be passed. The maximum level of acquiring for merchants will be capped at 1%, and the interchange rates will be capped at 0.5%.