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Number of transfers via Russia’s Faster Payment System rises by 27% in Q2

According to the regulator, the average number of transactions per day in April - June 2024 was 35 mln, the maximum - 46 mln

MOSCOW, July 31. /TASS/. The number of transfers via Russia’s Faster Payment System in the Q2 of 2024 increased by 27% compared to the previous quarter, the Bank of Russia said.

"In the Q2, people made almost 2.3 bln transfers via the Fast Payment System for 13.4 bln rubles. Compared to the Q1, the number of transfers increased by 27% and their volume - by 47%, the regulator said.

The Bank of Russian noted that such dynamics may be due, among other things, to the fact that since May 1, people have been able to transfer up to 30 mln rubles ($347,488) per month between their accounts in different banks for free.

According to the regulator, the average number of transactions per day in April - June 2024 was 35 mln, the maximum - 46 mln.

The number of trade and service enterprises accepting payments through the Faster Payment System increased by 9% over the quarter to 1.8 mln, while the number of small and medium-sized businesses reached 1.5 mln, which is 24% of their total number.

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