Customers from rural areas, people with disabilities, and elderly individuals have increasingly turned to digital channels for financial transactions, according to a survey by the Bank of Russia.
At the beginning of 2024, non-cash payments in retail, cafés and restaurants, and services reached 83.4%, marking a record high. Consumers frequently use QR codes, Mir Pay and SBPay applications, NFC technology, or biometrics for their transactions. These methods are valued for their accessibility, speed, and security.
Mini service points continue to expand, allowing individuals to access financial services through tellers. This format is particularly relevant in remote and sparsely populated areas where internet connectivity can be unstable and for those who cannot or prefer not to use online services. The number of such points increased by nearly 43% in 2023, driven primarily by the rise in service points with credit institutions' agents and partners. Additionally, more stores, filling stations, and other trade and service companies now offer cash withdrawal services through cash desks.
The survey indicates that 83.1% of respondents and almost 90% of small- and medium-sized businesses are satisfied with financial institutions' performance—an increase of 8% compared to the previous survey.
The survey was conducted as part of measuring financial inclusion indicators which reflect the number of operating points offering financial services to people and the formats of servicing.
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