The deadline for the mandatory introduction of card payments in stores

The period from which all retail outlets and online stores will be required to accept bank cards will be postponed for a year and a half, said Anatoly Aksakov, head of the State Duma Committee on the Financial Market. According to him, the requirement is planned to be extended to all trade and service enterprises (TSP) from January 1st, 2023 instead of July 1st, 2021 - the date that was discussed earlier.

Corresponding amendments to the law "On the Protection of Consumer Rights" are under discussion and should be submitted to the State Duma in the near future, Aksakov explained.

The developers of the bill believe that the massive introduction of cashless payments will ensure transparency of trade, especially on the Internet, for tax authorities. The large-scale shadow market associated with the sale of counterfeit products exists largely due to microenterprises that use exclusively cash payments to customers, the explanatory note for the bill states. Most often, such products are sold through the Internet because of the almost complete absence of control mechanisms by state bodies.

News
24.10.2019
The deadline for the mandatory introduction of card payments in stores
The period from which all retail outlets and online stores will be required to accept bank cards will be postponed for a year and a half, said Anatoly Aksakov, head of the State Duma Committee on the Financial Market.
14.10.2019
Russian Agricultural Bank presented a number of new services
Russian Agricultural Bank presented a number of new services at the forum of innovative financial technologies that took plsce in Sochi. They state that all their efforts are being used towards increasing availability of financial services.
01.10.2019
Russia received 1st place in Europe in cash-free transaction growth
It was stated in the report of the consulting company BCG that Russia became a world leader in the number of the most protected tokenized transactions and Europe’s biggest market in the volume of operations with using digital currency.