MOSCOW, March 20. /TASS/. The share of card transactions in the Russian trade turnover will total 90% in 2028, Frank RG company said in its research.

"The volume of cash transactions has not actually changed, although its share lowered, while the total turnover of transactions increased by a factor of four over the last seven years. Starting from 2022, 80% of payments of individuals are made with the use of bank cards so far. Growth will continue, although at a lower rate. According to the estimate of Frank RG, the share of card transactions in the trade turnover will total 90% in 2028," the research indicates. "The total amount of transactions will continue growing in the next five years and will be above 400 trillion rubles ($4.35 trillion) by 2028," the company said.

New market leaders may appear in the market in the near time from among alternative systems of payments without the use of cards, the so-called Pay solutions, the research indicates.