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The Central Bank said it expects card transactions to grow by up to 70% this year

By the end of 2020, the share of non-cash transactions in retail trade turnover will grow by 5 p. p.and will not exceed 70%. This was reported to Izvestia by the Bank of Russia on Sunday, April 5.

According to the regulator’s statistics, the volume of Bank card transactions in numerical terms increased by a record 27% in 2019, to 24.8 trillion rubles. The increase in indicators is influenced by the increase in the confidence of citizens and the development of payment technologies in General. This year, the growth will also be due to the development of the fast payment system.

According to Bank analysts and experts, the trend to popularize Bank cards will continue, including due to the quarantine, as Russians will have to make more purchases online and use the card instead of cash. Already in March, the growth of turnover on cards increased by about 20%, said the Director of retail products of Dom Bank.of the Russian Federation” Evgeny Shitikov.

According to his expectations, the increased demand for non-cash transactions will continue in the first half of 2020. Already in March, the share of purchases using Gazprombank cards increased by 14% compared to February, and at the end of the year, the growth rate is expected to reach 40%, said Dmitry Lepekhin, head of the Bank cards Department of the credit organization.

As stated in the Moscow credit Bank (ICB), now there is not an increase in the number of card transactions, but a change in the structure of customer spending: some categories have experienced an increase, while others a decrease. The Bank believes that the total volume of transactions will decrease due to the economic situation in Russia.

According to Sergey Deineka, financial analyst at BCS Premier, the economy may be negatively affected by the coronavirus pandemic.
Read more in the exclusive material “Izvestia” from April 6.

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