Russians received 12 million bank cards year to date
The number of bank cards in issue in Russia in Q1 2022 grew by 12 million to amount to 341 million, Izvestia reports with reference to the Bank of Russia’s data. This is the biggest increase since 2012, when the figure grew by 30.1 million to 239 million in the fourth quarter.
The number of plastic cards in use also rose by 5.8 million to 237.3 million. This was confirmed by the NSPK: according to the Q1 2021 totals, the number of Russian national cards?? was 98 million, while it reached 125 million in the same period of 2022.
Banks also confirm the growth in demand for bank cards in Russia. Moscow Credit Bank noted that the number of cards increased by more than 2.5 times in Q1 2022 compared to the same period last year. Such a sharp increase in demand may be driven by the departure of Visa and Mastercard from Russia, which gave the customers a spur to fast migration to the Mir cards.