Russia may become a leader in cashless payments in the next 10 years
2021-10-12 08:35

Russia may become a leader in cashless payments in the next 10 years

Russia continues to actively increase the volume of card payments, this rate over the next 10 years will allow the country to get ahead of the leading economies of the world and strengthen its leadership on this indicator, analysts predict the international consulting firm The Boston Consulting Group (BCG), RIA Novosti wrote.

According to the company, if in 2010 Russia had one of the lowest rates of card transactions per capita, lagging behind the world leader Norway by 40 times, 10 years later the gap is only 1.5 times.

"In the next 10 years, according to our forecasts, card payments in Russia will grow at the fastest pace. At the instrument level, we expect debit cards to show the fastest growth," noted Max Hauser, head of BCG's digital technology practice in Russia and the CIS.

According to their data, revenue from non-cash payments in Russia will grow faster than in other Eastern European countries, and will grow by half over the next 10 years.

Made in Russia / Made in Russia

Author: Karina Kamalova