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Visa Halves Interbank Commission Rate for Small Fast Food Outlets



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Since September 1, the international payment system (MPS) Visa has significantly lowered the interchange (the fee paid by the acquiring bank to the issuing bank when paying with a credit card) for fast food in Russia, Kommersant writes.
Previously, the fee for most cards was 0.95 percent, and for premium cards it reached 2.35 percent, but now it is 0.5 percent for all cards with the sole condition that the check be no more than 500 rubles. Thus, Visa has effectively made street fast food the same as the biggest fast food businesses, for whom the 0.5 percent fee has been in place for many years.

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