09-04-2019 | 13:43

To implement the Competition Development Road Map [1], FAS and the Bank of Russia devised the Guidelines on the information disclosure procedure on the commission charged form consumers for the services that use ATMs and payment terminals


The document is approved by a joint letter of FAS and the Bank of Russia [2] and applies to the companies that provide payment services [3].


The Guidelines were drafted upon information received by the antimonopoly bodies that in some cases economic entities attempt to gain advantages rendering payment services to physical persons with use of payment terminals / ATM, providing incorrect or distorted data about the conditions under which services are provided.


For instance, some market players show information about the commission charged for particular operation on the screen of a payment terminal / ATM in a form totally beyond normal perception, using the following psychological tricks:


- Information about the commission and its size is shown on a screen only after pressing additional;


- The colour palette of such buttons makes them difficult to notice (for example, gray and white on the white background of the screen);


- Information about all sizes of the commissions depending on the payment size can be obtained only through several stages by pressing several similar buttons;


- Information about the commission size is given on the same list in different expressions – in Rubles and in percentage. Depending on the payment size, the sum in given in Rub if the sum is lower (for examples, the commission for depositing  100 - 500 RUB is 25 RUB, and depositing more – from 500 to 5000 RUB is 25%). Since both conditions are on the same list, consumers may not be able to understand the difference in the final sum of the commission.


“All these tricks can be considered as an intention of the terminal / ATM owner to mislead consumers regarding the costs of the payment service which is a form of unfair competition”, stated Olga Sergeeva, Head of FAS Department for Control over Financial Markets.


The Guidelines are designed to exclude such unfair methods for making consumers aware.


The Guidelines emphasized the need to disclose full and correct information to consumers about the service conditions, particularly, the remuneration size before the consumer starts putting cash in an ATM / payment terminal.


Under the Guidelines, prior to consumers depositing cash, they also should be made aware of full information about probability or inability to return cash put in an ATM / payment terminal (in case of refusing to perform a transaction or returning extra cash put in an ATM).


“The Guidelines is one of preventative measures, following which will increase transparency of the operations of the  economic entities listed in the Guidelines,  shape a full understanding about the proposes payment services, enhance trust in them and protect competition on the market of payment services”, explained Deputy Head of FAS Andrey Kashevarov.


[1] Clause 8 Section XIV “Financial Markets” of 2018-2020  Action Plan for developing competition in the sectors of the economy of the Russian Federation and transition of some spheres of natural monopolies from the state of natural monopoly to the state of a competitive market, approved by No. 1697-r Order of the Government of the Russian Federation of 16.08.2018.

[2] Nos. АК/25611/19 and IN-06-52/29 of 29.03.2019

[3] Credit organizations, bank payment agents, bank payment subagents, payment agents rendering the relevant services to consumers using ATMK and (or) payment terminals


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