MOSCOW: The share of cashless payments in Russia will continue to grow and will exceed 90% by 2030, Director of the National Payment Syst...
MOSCOW: The share of cashless payments in Russia will continue to grow and will exceed 90% by 2030, Director of the National Payment System Department at the Bank of Russia Alla Bakina said in an interview with TASS.
"It's clear that the share of cashless payments will continue to grow. It's already very high, so achieving each additional percentage point requires significant effort. In the first nine months of 2025, the share of cashless payments was 87.8%. These are enormous numbers. We've made a colossal leap in just ten years. I believe we'll exceed 90% by 2030," she said, adding that this share equaled less than 20% in 2013-2014.
The number of transactions using bank cards slipped by 3% in Q3 2025, while volumes decreased by 6%, Bakina added.
"It's already clear that the growth rate of card transactions is slowing. Comparing the figures for the third quarters of this and last year, the decline was 3% and 6% in terms of the number and volume, respectively," Bakina said. "There will be enough space for all payment instruments since everyone has their own preferences," she noted.
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