Share of non-cash payments in retail turnover increased 5.3 percentage points in 2023 to 83.4% - Nabiullina

MOSCOW. March 1 (Interfax) - The share of non-cash payments in retail turnover at the end of 2023 reached 83.4%, Head of the Central Bank Elvira Nabiullina said at a meeting of banks with the regulator organized by the Association of Banks of Russia.

"We have summed up the results for 2023 and see that the share of non-cash payments in retail turnover reached 83.4%. That is, it increased a full 5.3% during the year. This is one of the highest figures in the world," Nabiullina said.

The share of non-cash transactions in trade turnover in 2022 reached 78.1%, the Central Bank said. The regulator forecast at the start of 2023 that the share of these operations could grow to 80%. The forecast was subsequently raised to 83-84% in the middle of the year.