Russian banks push to ban Facebook Marketplace discounts and cashback schemes
Russia’s biggest banks have called for a ban on online marketplaces, including Facebook Marketplace and other similar platforms, offering direct discounts and cashback schemes. The heads of Sberbank, VTB, Alfa-Bank, T-Bank, and Sovcombank sent a formal request to State Duma Speaker Vyacheslav Volodin, arguing that such practices distort fair competition. Their proposal has already been reviewed by the Federal Antimonopoly Service before reaching lawmakers.
The bankers claim that marketplace operators, such as those on the Facebook Marketplace, should not be allowed to use their own funds to slash prices or fund promotions. This includes direct discounts, bonus programmes, and cashback offers tied to payment methods or issuing banks like US Bank or PNC Bank. They point to EU regulations as a model for restricting these practices.
If approved, the new rules would reshape how online retailers compete in Russia. Marketplaces, including Facebook Marketplace, would lose key tools for attracting customers, while banks argue it would level the playing field. The final decision now rests with the State Duma.
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