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Digital payments in Russia - statistics & facts

The digitalization of the Russian economy has seen significant progress over the past years, ranking the country in leading positions worldwide. The finance industry exhibited the most noticeable digital transformation, with a penetration rate of over 80 percent in terms of financial technologies in 2019. Furthermore, a speedy development of e-commerce in the country contributed to a gradual increase of cashless trade in Russian household expenditure. The market outlook projected a positive trend would continue, with digital payments value rising along with users volume in coming years.

Payment methods

Even though cash remains the most popular payment method in the country, the use of bank cards is equally widespread. The high recurrence of debit and credit card handling is closely related to the increasing popularity of online shopping in the country, contributing therefore to a rise in online payment orders received by credit institutions.

When looking at online payment dynamics, C2C transactions accounted for the largest share of electronic transfers in 2019. E-wallets and contactless payments gradually gained a customer base, despite the fact that a preference for online banking and card payments prevails up to date. In 2019, Sberbank online was revealed as the most used service for online payments countrywide.

Users of digital payments in Russia

The analysis of users demographics disclosed a significant preference for cash in older generations. Users younger than 45, on the other hand, showed a higher affinity index for contemporary payment methods such as cryptocurrencies and e-wallets. While speed and personal data safety were the dominant advantages of electronic payment methods compared to cash, users found technical problems to be a major shortcoming of such systems in 2020.

Interesting statistics

In the following 5 chapters, you will quickly find the 29 most important statistics relating to "Digital payments in Russia".

Digital payments in Russia

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Important key figures

The most important key figures provide you with a compact summary of the topic of "Digital payments in Russia" and take you straight to the corresponding statistics.

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