Sberbank presents its “Rating of Russia’s Cashless Regions and Cities”

Sberbank has presented its “Rating of Russia’s Cashless Regions and Cities.” This is the first research of its kind ever conducted by the bank, as its release paper states. “In the last 10 years, Russia has seen a true breakthrough in the field of e-payments. In 2018, the share of cashless payments in the overall expenditure on goods is close to 50%. In 2017, this figure increased to 39%, whereas in 2008 it was as low as 4%, which means the share of e-payments has increased 10-fold in 10 years! This is one of the best results in the world,” Mikhail Matovnikov, Sberbank’s chief analyst, comments.

“We at Sberbank believe that one of the key factors required for the growth of e-payment volume is the development of infrastructure. We used to focus on the growth of merchant acquiring, but now that POS terminals are available even at small stores all over the country, we have shifted our focus towards the improvement of the network efficiency, development of acquiring in transportation, digital services, and remote services designed to make card use more convenient,” Svetlana Kirsanova, Acquiring and Bank Cards division director, noted.

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