Loyalty Programme for Mir Bank Card Holders Developed with FBK Legal Support

FBK Legal lawyers and FBK consultants have provided consulting support to the National Payment Card System (NPCS is the Mir bank card operator) for the launch of the loyalty programme the first stage of which has started in Moscow and Moscow Region.

The team of the firm’s leading specialists have assessed legal and tax risks, developed a contractual model and a legal structure of the programme, regulatory documents, including the programme rules, and contractual forms, as well as the accounting procedure for respective transactions.

According to FBK Legal Partner Alexander Ermolenko, “We are always glad to engage in such complicated projects. We have accumulated a wide experience in providing support for loyalty programmes and this time we have managed to apply our best practices.”

Now the loyalty programme allows the Mir card holders of more than 20 banks to enjoy cash back rewards from purchases using promotions offered by various retailers on a special website. Russian banks which have issued the biggest number of Mir cards will join the programme by the end of the year.