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31 Jan, 14:24

Transactions via Faster Payments System growing — Bank of Russia

Each fourth transaction is the payment for goods or services, the Central Bank said

MOSCOW, January 31. /TASS/. The number and the volume of transactions made via the Faster Payments System (SBP) surged twofold in annual terms in 2024, the Bank of Russia said.

In total, the system processed over 13.4 bln transactions totaling 69.5 trillion rubles ($705.6 bln), the regulator informed.

The average number of transactions via the system per day was growing steadily from quarter to quarter. In the last quarter of 2024, 45 mln transactions were made daily. The average figure a year ago was 26 mln transactions per day, the regulator said.

Each fourth transaction is the payment for goods or services, the Central Bank said. The number of trading and service businesses accepting payments via the Faster Payments System was about 2.2 mln by the start of 2025, the regulator added.