Russia: Tariffs for Goods and Services Through the Faster Payment System

The Central Bank of the Russian Federation (CBR) has published the details of tariffs applicable when paying for goods and services through the Faster Payment System (FPS). 

The CBR has approved the maximum percentage of commission that banks will be able to charge to trade and service enterprises when they pay for goods and services through the FPS. The fees will range up to 0.7 percent depending on the payment amount and the type of activity carried out by the enterprise. Commissions will not be charged for payments to the state, such as fines, taxes and penalties.

For the most frequent payments, such as those for consumer goods, medical and educational services, the tariff is set at 0.4 percent, whereas other payments will be subject to 0.7 percent commission.

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