Credit cards
15.06.2012 2046

Credit cards

Retailers will be required to accept bank cards

The Ministry of Finance has published a bill according to which retailers with revenues of more than 60 million rubles a year will be required to install electronic equipment (POS-terminals or their analogues) for reading bank cards. The requirement of the ministry may come into force on January 1 of 2014 of the year.

The changes will affect the federal law "On the fundamentals of state regulation of trading activities in the Russian Federation." The purpose of the innovation is to ensure “equal consumer rights for those who prefer to pay both in cash and by non-cash means,” says the explanatory note to the bill.

In addition, the Ministry of Finance hopes to reduce the shadow turnover, which is stimulated by the circulation of cash. According to the Ministry of Finance, the volume of the shadow sector, for example, in Internet commerce, ranges from 70% to 80%, with a total market volume of 320-350 billion rubles.

All trade and service organizations and online stores, with the exception of microenterprises, fall under the bill. That is, POS-terminals will be required to be installed by retailers, whose daily revenue is more than 164 thousand rubles. For comparison, the daily revenue of the Magnit retail chain is about 917 million rubles, according to

Retailers will be required to accept bank cards. The Ministry of Finance has published a bill according to which retailers with revenues of more than 60 million rubles per year will be required to establish ...

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