The volume of card transactions in the third quarter of 2020 increased by 22% and reached 27.1 trillion rubles, follows from the statistics of the Central Bank, which Izvestia got acquainted with. In absolute terms, the increase of 5 trillion rubles is a record figure for the entire history of observations, and in relative terms, it is the highest figure since the second quarter of 2006, when the volume of non-cash transactions increased by 24%.
The largest Russian banks “Izvestia” confirmed the trend of outrunning growth in the use of cards. In PSB, the total turnover of individuals on cards increased by 23%, and in Home Credit – by 25%. In Gazprombank, the amount of payments for goods and services increased by 19%, in VTB – by 27%, and in Bank Saint Petersburg – by 30%, in MKB – by 38%, according to credit institutions for Izvestia.
According to the Central Bank’s estimates, the share of non-cash transactions in retail retail in the second half of the year increased to almost 69%, the regulator told Izvestia. This speaks of the confidence in non-cash payment methods, including cards, stressed there.
– Such a sharp jump is connected with the decreased activity of clients in the second quarter due to restrictive measures. In addition, there was a “overflow” of some citizens from the cash turnover. In the outlets themselves, there is a fairly broad informational support for a safer method of payment – by card, – Sergey Mishanin, head of the bank cards business of Saint Petersburg Bank, explained to Izvestia.
By the end of 2020, the share of non-cash transactions will exceed 70%, the Central Bank predicts.
Read more in the exclusive material of Izvestia:
Cashless counting: the volume of card transactions increased to 27 trillion rubles