the share of non-cash payments in retail turnover increased to 83.4% – Kommersant

The share of non-cash payments in retail turnover in 2023 increased by 5.3% p.p., amounting to 83.4%. This was announced by the head of the Central Bank, Elvira Nabiullina, at a meeting with credit institutions.

“We have summed up the results for 2023 and see that the share of non-cash payments in retail turnover has reached 83.4%. That is, over the year it immediately increased by 5.3%. This is one of the highest indicators in the world,” the head of the Central Bank said at a meeting organized by the Association of Russian Banks.

At the same time, in 2022, the share of non-cash transactions in trade turnover amounted to 78.1%. According to the regulator’s forecast for 2023, the share of such operations may increase to 80%. In the middle of the year the regulator raised your forecast to 83–84%.

Cash in 2022 were the most popular form of savings for Russians – 36% of citizens kept funds in them. First Deputy Chairman of the Central Bank Olga Skorobogatova spokethat, “despite all the difficulties and all the events,” Russians fundamentally choose a non-cash payment method.

Why the Central Bank is strengthening control over citizens’ payments – in the Kommersant publication “Cash payments are included in the register”.