Visa can fine banks $25,000 for surcharge of Wildberries

The violation is requested to be investigated and findings are to be reported by August 31 of this year

MOSCOW, August 20. /TASS/. Visa warned acquiring banks working with the Russian online retailer Wildberries about the $25,000 fine in case of charging an extra fee when making purchases using Visa cards, the international payment system said in its letter available with TASS.

“We have received a complaint stating that Wildberries is adding a surcharge to the transaction if a Visa card is used to pay the merchant. As you know, if your merchant is adding a surcharge for using a Visa card this is a compliance violation of the Surcharges requirements under Visa Core Rules and Visa Product and Service Rules, Surcharges,” Visa said.

The violation is requested to be investigated and findings are to be reported by August 31 of this year.

“Visa will apply the Non-Compliance Assessment (“NCA”) of USD 25,000″ if the non-compliant practice is not cured by August 31, 2021. The assessment will “escalate monthly, until this matter is resolved,” the international payment system said.

Mastercard is in “working dialog” with partner banks concerning the situation with Wildberries as regards goods prices, the company’s press service told TASS.

“We are in the normal working dialog with partners, act in line with our rules and procedures and do not comment on details of relations with clients,” Mastercard said in a comment.

Foreign payment systems are applying pressure on Russian banks over previously introduced discounts for using domestic payment systems, Russian online retailer Wildberries said earlier on Friday. Since August 16, Wildberries reduced its prices in line with the cost of sale relating to the payment system tariffs that were already bundled into the overall price, and suggested that buyers can select the payment system more convenient and beneficial for them. Discounts are offered when paying by Mir cards, through the Faster Payment System and SberPay.

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