For the first time, Russians spent more money on cards than cash

Sberbank said that the non-cash expenses of Russians in the last quarter of 2019 for the first time exceeded spending

in cash.

The bank analyzed the data in the framework of the project."SberData." Analysts found that in the fourth quarter of last year, more than half (50.4%) of goods and services in Russia were paid by bank transfer. That is, for the first time, Russians spent more money on cards than cash.

In large cities, including Moscow and St. Petersburg, the share of non-cash turnover crossed the threshold of 50% and even at the end of 2019.

The fastest cashless payments in the fourth quarter of 2019 increased in the Chukotka Autonomous Okrug.

Analysts believe that in 2020 the threshold of 50% will also be overcome. If we add transfers to payments for goods and services, the share of non-cash payments in the total volume will increase to 68.8%.