E-commerce giant Ozon on Monday rejected allegations of unfair competition after Russia’s Central Bank was reported to have backed major banks as they seek restrictions on how online marketplaces incentivize customers to use their own financial services.
The business newspaper Kommersant reported that Central Bank Governor Elvira Nabiullina had proposed banning marketplaces from offering discounts to customers who pay through their subsidiary banks.
Nabiullina was said the practice gives platforms an “inherent competitive advantage over other market players,” according to the report, citing a letter she sent to Economic Development Minister Maxim Reshetnikov.
Ozon, one of Russia’s largest online retailers, called the Central Bank proposal “strange” and insisted that it provides equal access to all banks on its platform.
“We have discussed equal access for all banks to our loyalty program with the [Central Bank],” the company told the state-run RIA Novosti news agency, without saying whether any agreement had been reached.
The Economic Development Ministry told Kommersant it was reviewing Nabiullina’s proposals but noted that Russia’s platform-economy law already allows the government to set pricing rules for online marketplaces. Any new restrictions on loyalty programs, it said, would need to be assessed for their impact on sellers, consumers and the broader digital economy.
Russia’s largest lenders, including Sber, VTB and T-Bank, accused marketplaces last month of restricting competition by tying discounts to their in-house payment tools.
Sberbank CEO German Gref said Tuesday that such practices reduce tax revenue and give e-commerce platforms an unfair edge over brick-and-mortar retailers.
Nabiullina was also reported to have argued in her letter that prices on marketplaces should not depend on the payment method customers choose at checkout.
E-commerce platforms, meanwhile, have accused banks of trying to curb competition as more customers switch to marketplace-linked financial services.
The Association of E-Commerce Companies, which represents Wildberries, Ozon and Yandex.Market, said banks have long used card-linked cash-back and similar rewards programs within their own ecosystems without facing comparable scrutiny.
In its comments to RIA Novosti on Monday, Ozon said it was working with 17 banks “to bring customers even more benefits.”
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
