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The Central Bank predicted an increase in the share of non-cash payments in Russia
By the end of 2024, the share of non-cash payments in Russia may increase to 86-87%. This forecast was given by the First Vice President of the Central Bank of the Russian Federation (CB) Olga Skorobogatova, as quoted by TASS.
According to her, today the share of such payments in the country is 85%. Therefore, in the months remaining until the end of the year, this figure may increase by 1-2 percentage points (pp), Skorobogatova believes.
According to her forecasts, in the medium term the coefficient of non-cash payments in Russia may increase by several more percentage points, reaching 90-92%. These indicators are at the level of world leaders in this area, Skorobogatova summed up.
The share of non-cash payments in the country is increasing every year. Earlier, the Central Bank reported that by the end of 2023, this figure had increased by 5.3 percentage points. It was raised to the 2022 level and exceeded 83.4%. Regulators note that this is one of the highest estimates in the world. If Skorobogatova's forecasts come true, then in 2024 this figure will increase by another 2.6-3.6%.
At the same time, Deputy Chairman of the Central Bank Sergei Belov believes that cash in the Russian Federation will remain in circulation for a long time, despite the growth in the share of non-cash payments. According to him, the transition to a completely cashless society in Russia will not happen anytime soon.