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All research
29 January 2021

Top of most cashless Russian cities and regions. Cashless transactions in Russia in 4Q20

According to SberIndex lab and IT company Platform OFD estimates, in 4Q2020 the share of non-cash turnover in Russia reached 55.9%, up from 54.1% in 2020, or 4.9 pp more y-o-y (49.2%). This is an all-time high.

The trend towards deceleration in the rate of penetration of non-cash payments was reversed due to changes in consumer preferences during the pandemic. More than one-half of spending (53.1% in 4Q2020) is now done with cards, even in a traditionally “cash” category such as Corner Stores.

Users keep steering away from cash in general, even despite a significant increase in the paper currency in circulation (+RUB2.8 tn to RUB13.4 tn). Nevertheless, the share of non-cash payments slid in the Building and Household Goods category, probably due to people having more paper cash.

In 18 regions, the share of non-cash trade turnover in 4Q2020 exceeded 60%.

For the first time on record, a region was spotted where the share of non-cash turnover reached 70% in 4Q. It’s the Nenets Autonomous District. In the largest cities, the share of non-cash purchases traditionally beat the national metric and reached 56.7%. The leaders are Russia’s northern cities Petrozavodsk (65.9%), Severodvinsk (65.3%), and Syktyvkar (65.3%). In 3Q2020, only fourteen of the country’s largest cities saw the metric top 60%, while in 4Q the number of cities like that reached forty.

Here’s yet another consequence of the pandemic: in 4Q2020 the average order value grew again.

  • Consumers
  • Regions
  • Expenses