Online financial transactions are used by three-quarters of the Russian adult population (almost 75 percent of those questioned). Per a poll carried out by the Bank of Russia in May 2021, this number grew by 20%.
In the previous 12 months, more than 75% of the Russian adult population has used the Internet or mobile banking for financial transactions. According to the bank, this number grew by more than 20 percentage points in just two years, TASS reports.
Payment cards are gaining traction, according to the bank. In 2020, their share of retail turnover rose by 10.6 percentage points, while the overall share of cashless transactions increased by 5.6 percentage points to 70.3 percent.
The epidemic and its associated limitations had a profound impact on this. They were also to blame for a drop in household satisfaction with financial institution services from 75% to 75%. Meanwhile, the indicator is expected to recover in lockstep with the economy.
According to the Central Bank, the percentage of small and medium business representatives who are satisfied with the activities of financial institutions has grown to 82.3 percent.