Households have been increasingly utilizing the Faster Payments System (SBP) to conduct fee-free transfers between their accounts at different banks. The Bank of Russia reported that these transactions accounted for 40% of all money transfers made through the SBP in the first quarter of 2025.
During January to March 2025, individuals made over four billion transactions through the SBP, amounting to more than ₽22.6 trillion. This represents a 1.6-fold increase in the number of transactions and more than a doubling of their total value compared to the previous year. According to the data, 70% of Russians engage in person-to-person transfers via SBP, while 50% use it for purchases.
The popularity of SBP can also be attributed to its loyalty program. Within this program, individuals receive immediate cashback in their accounts following purchases made through the SBP. In the first quarter of 2025 alone, households collectively received approximately ₽500 million in cashback, accumulating a total of ₽4 billion over the past year.
NSPK JSC provided the preview photo.
