"The Bank of Russia has decided from October 1, 2021 to additionally limit the maximum amount of commissions that banks can take from merchants for transactions in the Fast Payment System - no more than 1.5 thousand rubles," the Central Bank said.

It is noted that "the new solution will reduce the costs of companies when selling goods for large sums."

"Similar tariffs and restrictions are established from October 1, 2021 on payments in favor of the self-employed," the regulator added.

In January, the Bank of Russia reported that since the launch of the fast payment system (FPS) of the Central Bank, Russians have made 139 million transfers worth about 1 trillion rubles.