The Bank of Russia expects the share of non-monetary transactions to grow to 90% in the next three to five years. This was stated by the first deputy director of the Central Bank, Olga Skorobogatova, at the Data Fusion 2024 conference.

The Central Bank of the Russian Federation predicted an increase in the share of non-monetary payments to 90% within three to five years

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According to Skorobogatova, in 2014 the number of operations of this type was 25%, while at the end of 2023 it was already 83%.

“And our forecast over the three to five year horizon is that we will get closer to the 90% figure. In the most advanced small European countries this figure is 92% to 93%,” said the first vice president of the Central Bank (cited by Vedomosti).

In March, the head of the Bank of Russia, Elvira Nabiullina, noted that the share of non-cash payments in retail turnover at the end of 2023 exceeded 83.4%. According to her, every second resident of Russia uses transfers through the SBP, and every third person pays for purchases.


Anastasia Marina

Source: RB

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