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Cashless payments in retail segment reach 78.1% in 2022 — Bank of Russia

"This was the driver of further growth of the share of cashless payments in retail turnover, which climbed to 78.1% in 2022 vs. 73.4% in 2021," the regulator informed

MOSCOW, March 29. /TASS/. The share of cashless payments for goods and services in the Russian retail turnover moved up from 73.4% in 2021 to 78.1% in 2022, the Central Bank said in its annual report.

"In 2022, despite serious changes related to sanction pressure, main indicators characterizing the business of money transfer operators maintained their growth. Cashless transactions made by credit institutions under orders of their customers and their own transactions surged by 13.2% in terms of quantity and by 32.4% by volume over the year and amounted to 79.5 bln payments totaling 1,592.3 trillion rubles ($20.6 trillion)," the Central Bank said.

"This was the driver of further growth of the share of cashless payments in retail turnover, which climbed to 78.1% in 2022 vs. 73.4% in 2021," the regulator informed.

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Central Bank of Russia

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