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Quarter of all transactions in Russia to be made without cards by year-end — Sberbank CEO

As Herman Gref noted, "Russia offers a full range of options, and notably, biometric payment systems are rapidly gaining traction"

SOCHI, October 16. /TASS/. By the end of this year, 25% of all financial transactions in Russia will be made without a physical bank card, Chief Executive Officer of Sberbank Herman Gref said.

"We see that by the end of this year 25% of all transactions will be carried out without cards," he told the Finopolis forum.

The way people buy things is changing drastically, Gref added. "We have developed entirely new payment methods that I have not seen anywhere else in the world. Currently, Russia offers a full range of options, and notably, biometric payment systems are rapidly gaining traction here, something not available in any other country," he said.

The Finopolis 2024 forum of innovative financial technologies is taking place in Sochi from October 16 to 18. TASS is the general information agency.

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