For continued work in Russia, the Visa system will have to pay $ 60 million

Visa payment system will have to pay $ 60 million for the right to continue working in Russia. The fact is that Visa does not have time to transfer all domestic Russian transactions for processing to the National Payment Card System (NSPK), writes Meduza . Therefore, the system must pay a guarantee fee for the quarter, the Russian regulator will not make concessions.

Moreover, there is a possibility that the Visa deposit will be charged as a penalty for the suspension of transactions on the cards of those banks that are under US sanctions. A law is currently working in the Russian Federation, according to which a penalty of 10% of the guarantee fee is charged for each day of suspension.

By law, the guarantee fee, which constitutes the average turnover of the payment system for two days, should not be paid immediately, but quarterly within two years. For the first quarter of 2015, the fee must be paid by the end of April. According to the calculations of specialists, the Visa guarantee fee for the first quarter should be about $ 60 million.