The WB pointed to the development of its own banks in marketplaces in other countries.

Many countries around the world encourage the development of their own banks in marketplaces. This was announced on December 4 by Georgy Gorshkov, Chairman of the Board of Wildberries Bank and Head of fintech at the United Wildberries and Russ (RWB) Company, at the XI Banking Law Conference.

"There are many examples of countries where banks and fintech companies are successfully developing in marketplaces. Moreover, we are talking about countries with the most advanced fintech," TASS quoted Gorshkov as saying.

He pointed out that Alibaba and Tencent have shares in banks in China, Uzum Bank is developing in Uzbekistan at the Uzum marketplace, in Indonesia, the Philippines and Singapore, banks are integrated into the e-com platform, which is part of the same group with them.

Marketplaces in India, South Korea, and the United States have full-fledged payment services, Gorshkov added. He noted that when talking about banning trading platforms from having their own banks, they often recall the US model. However, in this case, it should be borne in mind that American banking institutions are prohibited from owning marketplaces, trading and developing non-core assets.

In Russia, banks with marketplaces fully fall under the current legislation and comply with it on an equal basis with other credit institutions, Gorshkov emphasized.

"And it is important to understand that in the CIS and Asia, as an e-com platform, we compete not with Amazon, but with local players who are actively developing their fintech and have government support for this," he said.

Cash discrimination: adjustment of the law after a dispute over discounts on marketplaces may be postponed

The conflict between banks and online platforms forced the Central Bank to listen to both sides, and public figures refuted all the arguments of financiers.

On November 20, the heads of Russian banks made a proposal to ban direct discounts and bonus programs for marketplaces. It was planned to make an exception for their own products of marketplaces and socially significant product categories.

Later, VTsIOM published an opinion poll, according to which two thirds of Russians consider the initiative to ban discounts on marketplaces unfair. Most of them believe that the disappearance of discounts will inevitably lead to higher prices, worsen conditions for millions of customers and negatively affect small and medium-sized businesses.

On December 3, representatives of the Moscow Society for Consumer Protection sent a letter to the government in which they oppose a possible ban on discounts on online platforms. Ozon added that by prohibiting discounts to marketplaces, banks are introducing double standards, since banks are allowed to provide discounts and bonuses to their customers inside their systems.

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