Share of cashless payments in Russia up 87.5% from 86.7% in Q1 - Central Bank

SOCHI. Oct 8 (Interfax) - The share of cashless payments in retail turnover increased to 87.5% from 86.7% at the end of Q1 2025, Central Bank of Russia Governor Elvira Nabiullina said during the Finopolis event.

"Such an integral indicator of financial market maturity as the share in cashless payments - here [in Russia] it is now 87.5% for us. This is a very high figure, with respect to this we are in the top five countries," Nabiullina said.

"If we take a broader view, not only payments, 88.5% of financial services are acquired by people digitally," she said.

In July, the head of the Central Bank's National Payment System Department, Alla Bakina, said that the regulator expects the share of cashless payments to grow to 90% by the end of the current year. "Considering the current figures, the figures for the first quarter, we expect that by the end of the year this value will be up to 90%," Bakina said.