Cash and non-cash payments: Russians’ preferences in 2022
Non-cash transactions are preferred by an increasingly higher percentage of consumers, according to the opinion poll carried out by the Bank of Russia. Making a payment, 79% of respondents use a bank card, 38% — mobile banking, and 18% — the Faster Payments System.
Consumers opting for plastic cards say that they are more convenient to have at hand (55%) and enable remote transactions (34%).
A large proportion (36%) of people still prefer to have cash holdings. Many customers continue to use cash to pay for goods and services. Nearly a fourth (24%) of respondents do this by force of habit, a slightly lower share (23%) of consumers think that points of sale prefer cash, and some people (11%) believe that cash is better protected against cyber risks.
More detailed results of the opinion poll are available on the Bank of Russia website.