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Number of issued payment cards grows by 38% in 2011

February 21, 2012, 15:26 UTC+3
The number of bank cards issued in Russia grew by 38 percent in 2011 to about 200 million
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MOSCOW, February 21 (Itar-Tass) — The number of bank cards issued in Russia grew by 38 percent in 2011 to about 200 million, Head of retail payments department of the Bank of Russia Vadim Kuznetsov told reporters on Tuesday.

About 50 percent of the cards issued in Russia are active, i.e. they are used for transactions.

The number of operations made with banking cards in Russia grew by 32 percent to four billion in 2011 against 2010. The total value of the operations made amounted to 17 trillion roubles, which is by 36 percent more than it was in 2010.

The share of cash payments is reducing, Kuznetsov said, including those for flat rents and maintenance, for services of cell operators, and those made via special payment terminals.

In 2011, the share of cash payments made 59 percent against 66 percent in 2010. The share of cash payments in 2011 reduced from 86 percent to 81 percent.

“Thus, the share of non-cash payments in Russia makes 20 percent now,” he said. The Bank of Russia “has regulated to a maximum level the work in the market of payment cards for the banks,” having provided a legal base, which favoured growth of the share of non-cash payments in the country.

 

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