Rural residents, people with disabilities and elderly persons make more online transfers
Customers of these groups have started to use digital channels much more frequently, according to the Bank of Russia’s survey.
Overall, at the beginning of 2024, non-cash payments in retail, cafés and restaurants, and services made by consumers accounted for 83.4%, which is the highest level on record. Consumers often prefer to pay using a QR code, the Mir Pay and SBPay applications, the NFC technology, or biometrics. People appreciate the accessibility, speed and security of these payment methods.
In addition, mini service points continue to develop, and people can receive financial services as usual through a teller. These service formats are especially relevant in remote and sparsely populated localities where internet connection is not always stable as well as for people who do not wish to or cannot use online services. The number of such points surged by nearly 43% in 2023, which is the maximum growth rate. The increase was driven primarily by the rise in the number of service points with credit institutions’ agents and partners. Furthermore, there has been a growing number of stores, filling stations, and other trade and service companies providing the service of cash withdrawals through cash desks, and people can thus withdraw cash from their payment cards.
The survey shows that 83.1% of respondents and almost 90% of small and medium-sized businesses are satisfied with financial institutions’ work, which is 8% more for each of the figures as compared with the previous survey.
The survey was carried out in the course of the measurement of financial inclusion indicators. The latter show the number of operating points offering financial services to people and the formats of servicing.