75% of Russians use online transfers

These are the results of the survey conducted by the Bank of Russia in May 2021 to measure financial inclusion indicators. In two years, this indicator grew by more than 20 percentage points. 

The use of payment cards is also growing rapidly: in 2020, their share in retail turnover increased by 10.6 pp to 67.6%; the share of cashless payments in general rose by 5.6 pp to 70.3%.

This was influenced primarily by the pandemic and the corresponding restrictions. They also were the reason behind the decline in the level of households’ satisfaction with the services of financial institutions to 75%. However, this indicator will be probably recovering with the economy. Contrastingly, the share of small and medium-sized enterprises stating that they were satisfied with the work of financial institutions rose to 82.3%.

Both companies and households approved the anti-crisis support measures. 73.5% of individuals who made use of the loan restructuring were satisfied with this support measure. 87-89% of businessmen who received zero-interest loans for salary payment, loans that could be written off if they keep their employees or concessional loans at 8.5% positively judged these programmes.