Russian banks will replace up to half of plastic cards with digital

As Sber representatives said, the bank plans to issue up to 50% of cards in digital format by the end of 2023.

At the beginning of next year, we will provide all customers with the service of "plastic as an option", and when ordering any card product, they can immediately be used in digital form.

Kirill Tsarev, Deputy Chairman of the Board of Sberbank

He explained that when applying for any card, sheYou can immediately start using it digitally: make purchases on the Internet or download it to a smartphone with NFC - contactless payment technology. Later, if necessary, you can order a plastic duplicate of the payment instrument. 

In the second half of 2021, it will be possible to order a digital card when an existing one is reissued. Tsarev noted that Sberbank now issues about 10% of cards in electronic format. 

VTB representatives said that the bank expects to issue up to 40% of digital cards. Now this figure is only 5%. 

Demand for digital cards this yearconstantly increased: in November the bank issued 2.5 times more such cards than in January. In total, since the beginning of the year, the issue volume has exceeded 300 thousand units.

VTB representative

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