MainMarket in brief

RBC

Russia entered the top 5 countries in terms of the pace of transition to cashless payments

October 6, 2020|
63

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.

Original (in Russian)

Share:

Interested In The Russian IT Market? Subscribe!

By clicking the button you agree to Privacy Policy

Unless otherwise stated, the content is available under Creative Commons BY 4.0 license

Supported by the Moscow Government