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

As representatives of Sber 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 issuing any card sheit will be possible to immediately start using it digitally: to make purchases on the Internet or download to a smartphone with NFC, a 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 upon reissue of an existing one. Tsarev noted that now Sberbank 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%.

This year, the demand for digital cards has been constantly increasing: in November, the bank issued 2.5 times more such cards than in January. Since the beginning of the year, the total issue volume has exceeded 300 thousand.

VTB representative

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