Non-cash payments account for more than 60% in Russia

Speaking at a meeting of the State Duma Committee on Financial Markets, First Deputy Governor of the Bank of Russia Olga Skorobogatova said that according to May financial indicators, non-cash payments in Russia already accounted for 61% (cash payments – 39%). 

She called the current dynamics quite good and highlighted an increase in contactless payments.

Also, the First Deputy Governor of the Bank of Russia reminded that it was in late 2018 that the share of non-cash payments exceeded cash in the turnover of retail trade in Russia for the first time ever. Then the figure was 52%.

Source: AEI Prime

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