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Over seven billion transactions made via Faster Payments System in 2023 — Bank of Russia

The launch of the loyalty program with the cashback became an important incentive for greater popularity of the system, the regulator added

MOSCOW, February 2. /TASS/. Russians made over seven billion transactions amounting to thirty-one trillion rubles ($340.8 bln) via the Faster Payments System last year, the Central Bank said.

"Over seven billion transactions totaling 31 trillion rubles were made via the Faster Payments System in 2023, with the fourth quarter accounting for a third of them. Compared to the last year, indicators increased more than twofold," the regulator said.

The launch of the loyalty program with the cashback became an important incentive for greater popularity of the system, the Central Bank said. The total number of companies connecting to the system amounted to 1.5 mln in 2023, the regulator noted.

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