Bank of Russia expects non-cash payments in Russia to account for 80% in four years

The share of non-cash payments in Russia is expected to reach 80% in four years, said First Deputy Governor of the Central Bank of the Russian Federation Olga Skorobogatova, speaking at the International Financial Congress.

“We have now 60% of “non-cash”. We want to get the figure of about 80% in four years” she said, adding that the 20% growth in four years is a conservative scenario. The Bank of Russia reported earlier that the share of non-cash payments in retail trade reached 61% in 1Q 2019.

The regulator expects a 64-65% increase in the share of non-cash payments by the end of 2019.

Source: TASS

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