How the digital ruble will affect banks, stores and customers
Posted: Sun Jan 26, 2025 9:50 am
The introduction of the digital ruble can significantly affect the profitability of the main market players, as banks receive considerable income due to high interbank fees brazil cell phone number list for transactions using cards and interest rates. Thus, on the horizon of three to five years after successful piloting and full-scale implementation of the crypto ruble , " banks can lose up to 50 billion rubles per year in the form of a decrease in net income from interchange and an increase in the cost of attracting liabilities , " the authors of the study cite a preliminary estimate.
" Unlike banks, retailers will benefit in any case from the introduction of the Central Bank's digital currency. - RBC). The total gain for retailers from reducing acquiring fees can be at least 80 billion rubles per year , " Yakov and Partners calculated . For comparison: acquiring fees for cards average 0.5-3% of the cost of goods, and fees for accepting digital rubles can be 0.4-0.7%. However, in order for retailers to be able to achieve such savings, it is necessary to make the digital ruble popular with buyers and shift part of the retailers' profit to end consumers. For example, when paying with the digital ruble, offer " seamless " installments, free delivery, etc., the authors of the study believe: " International experience shows that reducing the cost of acquiring does not lead to lower prices, but to an increase in retailers' profits . " Consumers may be left without cashback accrued for purchases, since it is paid from the funds that banks receive as income from cashless card payments.
How banks can reduce losses
To minimize losses from the introduction of the digital ruble, card issuers can use a " defense " or " attack " strategy . " Now banks see themselves in a kind of " prisoner's dilemma . " They can resist changes and slow down the introduction of the digital ruble or, on the contrary, lead the process and receive disproportionate benefits from it , " says Ilya Ivaninsky, partner at Yakov and Partners .
With a " protection " strategy , banks can focus customers' attention on such advantages of card payments as cashback or interest on the account balance. But in the long term, such a strategy is ineffective, since its implementation requires high interbank fees, which will decrease, the authors of the study believe.
" Unlike banks, retailers will benefit in any case from the introduction of the Central Bank's digital currency. - RBC). The total gain for retailers from reducing acquiring fees can be at least 80 billion rubles per year , " Yakov and Partners calculated . For comparison: acquiring fees for cards average 0.5-3% of the cost of goods, and fees for accepting digital rubles can be 0.4-0.7%. However, in order for retailers to be able to achieve such savings, it is necessary to make the digital ruble popular with buyers and shift part of the retailers' profit to end consumers. For example, when paying with the digital ruble, offer " seamless " installments, free delivery, etc., the authors of the study believe: " International experience shows that reducing the cost of acquiring does not lead to lower prices, but to an increase in retailers' profits . " Consumers may be left without cashback accrued for purchases, since it is paid from the funds that banks receive as income from cashless card payments.
How banks can reduce losses
To minimize losses from the introduction of the digital ruble, card issuers can use a " defense " or " attack " strategy . " Now banks see themselves in a kind of " prisoner's dilemma . " They can resist changes and slow down the introduction of the digital ruble or, on the contrary, lead the process and receive disproportionate benefits from it , " says Ilya Ivaninsky, partner at Yakov and Partners .
With a " protection " strategy , banks can focus customers' attention on such advantages of card payments as cashback or interest on the account balance. But in the long term, such a strategy is ineffective, since its implementation requires high interbank fees, which will decrease, the authors of the study believe.