Cbank: Share of non-cash payments in Russia may reach 70% 2020

MOSCOW, May 28 (PRIME) -- The share of non-cash payments in Russia may rise to 68–70% by the end of 2020 from 64.7% at the end of 2019, Central Bank First Deputy Chairwoman Olga Skorobogatova said at a meeting of the financial market committee of the State Duma, parliament’s lower house, on Thursday.

“Where are we now from the point of view of non-cash retail payments? Our figures are very good, 64.7% as of the end of 2019. I think, we will reach 68–70% by the end of 2020, and only 30% will remain for cash payments,” she said.

Skorobogatova also said that top bank Sberbank connected its entire network to the instant payment system on Wednesday.

“The largest player, the last among the systemically important ones, finally connected. It connected its entire network yesterday, and we expect a significant rise in the volume and the number of C2C and C2B operations,” she said.

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