The Central Bank raised the forecast for the growth of non-cash payments in retail trade to 78-80%

The Central Bank of Russia (CB) clarified the indicators of the national payment system development strategy for 2021-2023 (.pdf). By the end of 2023, the share of non-cash transactions in retail trade is expected to grow to 78-80%. Initially, the regulator expected the growth of this indicator at the level of 75%.

By the end of September 2022, the share of non-cash payments amounted to 77.7%. According to past indicators, the Central Bank expected this indicator to grow to 73%. According to the current forecasts of the regulator, by the end of 2022, the share will be 76-78%. The adjustments of the indicator in the Central Bank were explained by “rapid positive dynamics”.

At the end of 2023, the share of Mir cards and SBP in the volume of retail non-cash transactions may grow to 47-49%. In 2022, it is expected to be 38-40%. The number of countries connected to the financial messaging system will be 15 in 2022 and 18 in 2023.

Lusine Balasyan

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