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Russia is turning into a country of non-cash turnover

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19.09.2018
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Russia is turning into a country of non-cash turnover, more than a third of all expenses of Russians pass through bank cards, Sberbank CEO German Gref told reporters.


"More than a third of all expenses of Russians pass through bank cards, every second operation on bank cards passes through contactless technology: either it's ApplePay, GooglePay or AndroidPay, or it's NFC technology on bank cards," he said.

According to him, transfers from card to the card through digital channels exceeded the amount of cash withdrawal for the expired period in 2018. The volume of transfers from card to card amounted to 8 trillion rubles last year, and for the eight months of this year - 13.7 trillion rubles.

First Deputy Chairman of the Central Bank of the Russian Federation Olga Skorobogatova said in July that the share of non-cash payments to the Russian Federation in 2018 will be 55.6%. Then she noted that the Bank of Russia is completely satisfied with the existing ratio of non-cash and cash payments, in the long term the share of non-cash payments will only increase.

According to the Central Bank, at present, the share of non-cash payments in Russia is almost 50%. According to the Central Bank, Russians in 2017 for the first time began to use bank cards more often to pay for goods and services than cash.

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