Bryan Cave Leighton Paisner (Russia) LLP advises MasterCard Member Association on launch of Russia’s first Cash-Out service via POS terminals
Bryan Cave Leighton Paisner (Russia) LLP has advised MasterCard Member Association on its launch of Cash-Out at Point Of Sale payment via bank cards at shop tills (tentatively named “Cash-Out” or “Purchase with Cash Back”), the first of its kind in the Russian market.
This unprecedented project has been evolving for several years. Although MasterCard has already introduced the service in dozens of other countries, Cash-Out has never been offered in Russia, so a series of legal matters had to be worked through. The Bryan Cave Leighton Paisner (Russia) LLP legal team thoroughly analysed whether the service was workable in the Russian market, including regulatory matters and legal relations between the parties. The team also delivered recommendations and step-by-step guidance on Cash-Out for Association member banks and their client merchants.
The project was handled by a Bryan Cave Leighton Paisner (Russia) LLP team led by Ekaterina Dedova, Partner and Head of TMT, and Alexey Gorlatov, Head of Commercial Practice at Bryan Cave Leighton Paisner (Russia) LLP.