Marketplaces may require you to issue a refund to the card you paid for the product.
The Bank of Russia proposed to legislate the obligation of digital platforms to return money to customers using the same payment method that was used for the purchase. An exception is given for cases where the customer independently chose an account or another method of receiving funds.
According to reports, the regulator has sent relevant proposals to the Ministry of Economic Development. The central bank also supported the expansion of the existing requirements for the sale of financial products to digital platforms and to include platforms within its supervision.
The initiative is related to the practice of crediting refunds to electronic wallets opened in banks in the market. Sometimes buyers are not aware of their existence and face restrictions when withdrawing funds.
Now the Bank of Russia recommends returning money to a payment card, but there is no binding requirement. New regulations should strengthen consumer protection for non-cash payments.