Fast Payment System operations increase 2.3-fold in H2 to 7 trln rubles - CBR

MOSCOW. Aug 22 (Interfax) - The volume of transactions in the Fast Payment System in Q2 2023 increased to 7 trillion rubles, which is 2.3 times more than the 3 trillion rubles in same period last year, the Russian Central Bank said.

The number of transactions in the system in Q2 increased to 1.6 billion, which is almost 2.5 times more than in the same period in 2022 (0.65 billion transactions).

The number of FPS transfers in Q2 increased 25% to 1.3 billion, and their amount increased 27% to 6.3 trillion rubles. The average transfer amount in Q2 was 4,800 rubles.

In total, in Q2, 300 million purchases worth 600 billion rubles were paid through the system, which is 70% and 60% higher than in Q1 2023, respectively.

Every second resident in Russia made transfers via the FPS system in Q2, and every fourth used it to pay for goods and services. On average, in Q2 of 2023, one resident made 17 transfers and paid for eight purchases using FPS.

In Q2, more than one million trade and service enterprises accepted FPS payments (965,000 are small and medium-sized enterprises), which is 70% more than in the previous quarter.

Thus, in Q2, one of the key indicators of the national payment system development strategy for 2021-2023 was achieved, which was updated by the regulator in November last year. According to the strategy, by the end of 2023, up to 590,000 trade and service enterprises from the SME segment should accept payments via FPS, while 100,000 were expected before the strategy was updated.

Payments to citizens through via FPS from legal entities (for example, insurance payments, brokers, etc.) increased to 12.2 million in Q2, and their total value increased to 59.1 billion rubles, which exceeds the figures for the previous quarter by 12% and 32%, respectively (10.8 million payments worth 44.8 billion rubles in Q1).