SMALL PAYMENTS - FEEDING BANKS

Banks close to monopoly positions are not inclined to charge interest on the balance of funds, they are doing their best to maintain an undervalued currency purchase rate and an overpriced sale. But the most serious way to earn them is small payments. The new tariff scale of Halyk Bank (Halyk Bank of Kazakhstan) serves as an excellent illustration.

One example: when paying with PayPal using a Halyk bank card, you can lose up to 12% of the amount, depending on the cross rate set by the Bank.

ACQUIRING: STEALING ON THE FLIGHT

In order for the store to be able to sell something on the cards, it needs the appropriate equipment. As a rule, this is a terminal that can read magnetic tape (for very old cards), chips, contactless chips. But there is not enough equipment - a bank is needed that would debit funds from the client's account and credit it to the seller's account. Naturally, the bank that owns the cards of most customers has the greatest attraction for customers. Therefore, most often the acquirer is the most popular bank. The largest acquirer in Kazakhstan is Halyk.

Card prices are no more than cash prices, so who does the acquirer live off of? He lives at the expense of the outlet, which pays him a percentage of each transaction. They are:

* Visa/Mastercard/UPI issued by Halyk Bank of Kazakhstan JSC 1.9%

* Visa/Mastercard/UPI issued payment cards of foreign banks 2.7%

Having lived for a month on acquiring, the merchant suddenly realizes that every fiftieth bill is missing at the cash desk. And increases prices by 2-4% as compensation for the damage suffered. Over time, growth becomes habitual. And the more customers pay with a card to the seller, the more obvious will be the desire of sellers to raise prices. De facto, it is Halyk Bank that becomes the engine of commodity inflation.

Sometimes you miss the money on the card and wonder where they went. No, the terminal is not a guarantee that you will not be charged a hidden commission. In the case of Halyk Bank, in nunt 4.1.1 we read - if you pay in favor of legal entities using a payment terminal, you will be charged at least 70 tenge. No less, but usually more!

Payments in favor of legal entities within the framework of concluded Agreements for accepting payments between legal entities and the Bank through a payment terminal 70 tenge

What is the problem of business ethics? The solutions will incorporate realistic and achievable ways to improve a situation or solve a problem. Testable evidence

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Provide specific and realistic solution(s) or changes needed.

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