Visa and MasterCard are preparing changes that hurt the pocket: expect higher prices

Visa и MasterCard готовят изменения, которые больно ударят по карману: ждем повышения цен

Popular payment systems has prepared an unpleasant surprise for Ukrainian banks

Visa and MasterCard want to increase the costs to banks of Ukraine, writes UBR.

Card payment system raise the Commission by a third from April 2019. This will be done not only for Ukrainian financial institutions, the increase will be worldwide.

As noted by financial experts, this refers to the payment that the banks make each quarter a fee for the use of the license and technical support.

It is reported that the Visa fee will increase for 5 thousand USD, and MasterCard – on 5 thousand euros.

All the world’s experts in one voice say that these changes in payment in the business will have a negative impact, because sellers will increase the cost. And this, in turn, hurt the consumer’s pocket – the price of goods and services will soar.

But Ukrainian experts are more optimistic. According to them, a significant increase in expenditures will not be. Payment card market in our country has high competition and “off” at the customer’s expense from the merchants and bankers will not work.

However, Visa and MasterCard, in addition to quarterly costs, introduce more and more monthly payments, as well as commissions on each transaction. There are already banks want or not, and prices will have to raise. Most likely, the client would have put more money behind the issue and reissue of Bank cards

As previously reported, the Central Bank of the Russian Federation is preparing for a possible disconnection from the Visa and MasterCard systems. Thus, it became known about the small banks that work with payment systems not directly but through banks, sponsors, asking them to find other sponsors in case one of the major banks will cut off from Visa and Mastercard.

Such disabling of banks is possible in the case of sanctions against them.

“The Bank is insured not only by the collapse of the banks sponsors, but also by possible sanctions, which may lead to disconnection of the sponsor from Visa and MasterCard, as happened in 2014 and 2015. The US is preparing a new package of sanctions that may affect the largest banks. For payments in Russia are not affected – the calculations are made through the National system of payment cards but overseas cards will not work”, write the Russian media.

As previously reported, the U.S. and the European Union may tighten sanctions against Russia or enter a new one because of the seizure of the Ukrainian seamen and vessels. This was stated by special representative of US state Department on Ukraine Kurt Volker.

“Some of our European allies talked about the new sanctions or the strengthening of existing sanctions. I think it’s a worthy idea, we will consider it,” said Walker.

He also called on Russia to release captured Ukrainian sailors and ships, otherwise the Russian authorities are waiting for “the consequences and pain.”

Visa и MasterCard готовят изменения, которые больно ударят по карману: ждем повышения цен

Visa и MasterCard готовят изменения, которые больно ударят по карману: ждем повышения цен