The National Bank of Moldova (BNM) has decided to cap the interbank fees charged for payment card transactions. Thus, the commissions will be reduced, in three stages over two years, from 1.6% and 2.5%, as it is now, to 0.5-0.6%.
According to the BNM, the action will directly lead to a decrease in the costs borne by both economic agents and final consumers.
At the same time, the BNM wants to stimulate competitiveness on the payment card market, ensuring the transparency of the commissions applied by payment service providers.
Before approval, the decision was consulted with payment market subjects and representatives of the banking sector. Thus, the solution was identified to ensure the continuity of services, but also the gradual decrease of tariffs. The document represents an important step in the process of harmonizing the legislation of the Republic of Moldova with EU requirements – a commitment assumed by the country for the accession to the European Union. (Moldpres/Business World Magazine)