Sberbank reported that non-cash expenses of Russians in the last quarter of 2019 exceeded spending for the first time
The bank analyzed the data as part 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 for by non-cash payment. That is, for the first time, Russians spent more money using cards than in cash.
In large cities, including Moscow and St. Petersburg, the share of non-cash turnover exceeded the threshold of 50% at the end of the entire 2019.
Non-cash payments grew fastest in the fourth quarter of 2019 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%.