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.

News
17.09.2018
Visa estimates the benefits from cashless economy
Roubini ThoughtLab, a research firm, carried out a global study Cashless Cities to the order of the Visa company. The study revealed that cashless economy has great potential in our society. The benefits of mass e-payment technology adoption in Moscow and St.
04.09.2018
China UnionPay, the largest payment system in the world, hits the European market
China UnionPay, a Chinese payment system which is the largest credit card issuer in the world, is preparing for issuing their cards in Great Britain.
14.08.2018
PayRing payment rings can now be purchased at Moscow Credit Bank offices
PayRing payment rings can now be purchased at Moscow Credit Bank offices. “You will not slow down the line while fumbling around in your bag for the purse or card: the line will slow down itself to take a look at how easily you are paying with your ring.