Share of non-cash payments in Russia has reached 86% — Central Bank

Business & Economy July 04, 14:30

According to the regulator, the development of payment infrastructure continues

ST. PETERSBURG, July 4. /TASS/. The share of non-cash payments in Russia has reached 86.7% by now, with the share of card payments in the total volume of payments declining, Director of the National Payment System Department at the Bank of Russia Alla Bakina said.

"The share of non-cash payments in the total volume of payments currently stands at 86.7%. <…> The share of card payments fell by 6% in the previous year and by 10% in almost two years. Meanwhile, the use of alternative payment instruments is on the rise," she said at the Financial Congress of the Bank of Russia, adding that the share of using cards in payments keeps declining.

"The development of payment infrastructure continues. The number of ATMs and POS terminals available to our citizens increased by 8% last year and it currently exceeds 5 million devices, which is above the average among G20 countries," Bakina added.

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