11:22, 12 November 2018
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4562 views
Mastercard: Russians are getting accustomed to non-cash payments
In 2017, the proportion of bank card holders in Russia remained almost unchanged, while the number of active card users increased. 75% of respondents use the card for shopping at least once a week.
Mastercard published the findings of the annual MasterIndex survey in Russia, which shows the dynamics and trends in the adoption of non-cash payment methods and reveals consumer habits and specific features of using bank cards. The survey results studied by the PLUSworld.ru portal demonstrate a steady growth of the popularity of electronic payments among Russians.
Consumers are increasingly using cards to pay for goods and services
In 2017, 88% of respondents held bank cards, with the vast majority of them (70%) being holders of salary cards. The figure has not changed visibly since 2016, when a rapid growth in the number of cardholders was seen.
Most cards are used for payments. This shows the growth of active users, i.e. those who pay with a card at least once a week. Besides, 56% of Russians used both cards and cash to make payments, and 21% of Russians paid mainly by bank cards. And as few as 23% of respondents still use cash alone. In 2009, this figure was 84%, so the number of cash payment enthusiasts has decreased by 61% within 8 years.
A ratio of preferred payment methods varies by RF region. Thus, bank cards are more popular among shoppers in the North-West (34%) and Central (28%) Federal Districts. A greater number of respondents alternating between non-cash and cash payments live in Moscow (75%) and the Volga District (59%). The largest proportion of dedicated followers of cash payments was recorded in the North Caucasus (52%), South (48%) and Siberian (44%) Districts.
The practice of using cards by Russians solely for cash withdrawals at ATMs is on the wane. In 2017, as few as 6% of respondents withdrew cash at ATM with a bank card, which is 2% less as compared to 2016. 25% of respondents use the card every day to pay for purchases, 75% – at least once a week. Most of them live in the city of Moscow (90%), the North-West (77%) and Ural (81%) Districts.
Contactless payments are gaining momentum
The contactless payment technology is growing in popularity in Russia. According to Mastercard, in 2018, the country became number one in the world in terms of quantity of tokenized transactions, that is, card or gadget based contactless payments.
The MasterIndex survey shows that 78% of cardholders were aware of this technology in 2017, which is 47% more than in 2015. At the same time, 32% of respondents make contactless payments using cards, smartphones, rings, bracelets, etc. The most popular device to make tap-and-go payments is a bank card (57% know about it), followed by a smartphone (51% heard of this payment method).
The respondents familiar with contactless payment technology are mostly residents of Moscow (87%) and the North-West District (87%). At the same time, even in the Far Eastern District, the most remote region of the country, 56% of respondents heard about contactless technology.