Visa and Mastercard: cardholders in Russia will face a reduction in cashback and bonuses

Holders of Visa and Mastercard cards in Russia may face a gradual reduction in cashback and other bonuses from banks. Chairman of the Board of National Savings Bank JSC Alexey Kuzmin warned about possible risks for holders of such plastic. His words are quoted by RIA Novosti.

A similar risk will be associated with the smooth withdrawal of plastic from the above-mentioned international payment systems from circulation in Russia, the financier explained. This process will be gradual. “For holders of these cards, changes will occur gradually,” Kuzmin noted.

In the medium term, owners of these cards may face a number of risks. Among the main ones, the analyst included a reduction in bonus accruals and other incentive mechanisms. They are traditionally financed by income from acquiring and interbank commissions. A possible reduction in cashback and other bonuses could begin as early as next year. The most noticeable effect, the expert stated, will most likely appear in 2028.