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Russians' interest in UnionPay cards fell by half in 2024
According to a survey, Russians prefer to use cash as their primary payment method when traveling. At the same time, the popularity of UnionPay cards, previously issued by Russian banks, has significantly decreased: in 2024, as few as 5% of respondents said that they used them, compared to 14% last year.
A survey conducted by the financial marketplace Vyberu.ru shows that every fifth Russian (21%) obtained a card issued by a foreign bank specifically for traveling abroad. Last year, this figure was 18%. However, sanctions restrictions have affected the use of UnionPay cards of Russian issuers: they are no longer accepted abroad, which has become one of the reasons for the loss of their popularity.
Cash remains the most popular method of payment abroad: 33% of respondents take dollars or euros with them to exchange them for local currency as needed. Russian Mir cards are also used, although their use is limited.
Cryptocurrency has become another alternative method of payment: 11% of respondents called it a convenient means of payment for trips.
The study canvassed 3,000 residents of large Russian cities aged 18 to 65.