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SBP payments traffic exceeded 22 trillion rubles in Q1 2025
Russians made 4.1 billion transactions via SBP (Faster Payment System) for a total of 22.6 trillion rubles in the first quarter of 2025, the Bank of Russia reports. The number of transactions increased by 1.6 times, and their volume grew by 2.1 times compared to the same period last year. SBP was processing 45 mn transactions on average per day, a 67% growth compared to 27 mn transactions in 1Q 2024. Seven out of ten Russians use the system for money transfers, and five out of ten use it to pay for goods and services. Meanwhile, 40% of all money transfers are made between customers’ own accounts at different banks with no fees applicable.
According to the regulator, Russians used SBP to pay for goods and services 1.2 billion times for the total amount of nearly 2 trillion rubles. The number and amount of payments increased by 70% and 60% compared to Q1 2024. Purchases in the total number of transactions accounted for 29%.
The number of merchants accepting payments through the SBP reached 2.4 million, the Bank of Russia specified. More than 80% of such merchants are small and medium-sized businesses. In total, over 1.9 million SMEs are registered in the system, which is 29% of their total number in the country.
As the regulator notes, the volume of G2C payments through SBP have also grown in 1Q to reach 52 million transactions for a total of 377 billion rubles (growth by 1.4 and 2.3 times, respectively, compared to 1Q 2024).
According to the regulator, the popularity of the SBP is driven by its loyalty program. In 1Q 2025, customers received about 500mn rubles in cashback, and over the past year, the total amount of such payments reached 4 billion rubles.