Alexey Borisov, Senior Manager, Audit and Advisory for Financial Institutions at FBK, weighed in for Kommersant Review on how the removal of the VAT exemption is affecting bank card transactions. The expert claims that although alternative payment methods are on the rise, cards continue to hold the lead by a wide margin.
It is noted in the article that since 2026, card payment costs for businesses has gone up due to 22% VAT being imposed on bank commissions. Alexey Borisov points out that for companies without the right to a tax deduction, this translated into a direct cost increase, hitting the profitability of retail, food service, and small businesses.
‘The nominal commission is only part of the story. The final cost depends on whether the company can deduct the tax charged by the bank, as well as on terminal maintenance costs and the speed of fund crediting. As a result, two offers with the same rate on the first page of the tariff schedule may turn out to be far from identical in actual cost,’ he says.
The expert also highlighted the fact that the final choice of payment method is to be made by the customer. Despite the economic benefits of the Faster Payment System for the retail outlet, the buyer often rationally chooses a card for cashback and loyalty programmes. Therefore, when choosing a partner, businesses should look beyond tariffs to the overall technological efficiency of the payment solution.
