According to “Global Payments 2020: Fast Forward into the Future” report prepared by Boston Consulting Group (BCG) analysts, Russia entered the top 5 world leaders in terms of the speed of transition to non-cash payments during the pandemic.
Analysts calculated the net change in consumer cash payments, derived the following way: the proportion of consumers who used cash more frequently during the pandemic minus the percentage of consumers who used it less. In Russia it was estimated at -48%, only Great Britain (-62%), Canada (-59%) and Australia (-53%) are ahead of Russia in terms of this indicator.
According to the Bank of Russia, in the second quarter of 2020 the proportion of non-cash payments increased to almost 70% - this amount of non-cash payments was expected by the Central Bank only at the end of 2020.
The Central Bank of the Russian Federation