Bank of Russia to use two new indicators to monitor payment services market
Based on the results of 2025, the regulator will calculate the level of consumer satisfaction with payment services and the digitalisation index of the national payment system for the first time. Both indicators will be calculated annually and will help assess the current situation in the payments market, the impact of innovations on it, inform market participants about user opinions, eliminate shortcomings, and adjust regulation if required.
The digitalisation index is calculated based on five subindices, including 15 diverse indicators as regards the competitive environment, security, import substitution, accessibility and speed of payments, the range of payment services, alternative payment methods, transaction activity, conditions for developing startups, etc. Information that the Bank of Russia has been already receiving through credit institution reports, as well as survey results, will be used to calculate the index. The digitalisation index calculated as of the end of 2025 will be the baseline for assessing its future dynamics.
Surveys of individuals and businesses will help determine the level of consumer satisfaction with payment services. Their answers will show how easy and convenient it is to make settlements with partners as well as make everyday payments, e.g. at cafés or on marketplaces, for housing and utility services, educational services, and so on. Using the results of this assessment, the Bank of Russia will, if needs be, provide recommendations for payment market participants and adjust regulation.
Both indicators will first be published in the summer of 2026.