Over the next 10 years, Russia will continue to increase the volume of card payments, surpassing the world's leading economies and strengthening its global leadership.
According to the research of The Boston Consulting Group (BCG), in the next 10 years non-cash payments in Russia will continue to grow at a fast pace leaving the largest economies of the world - the United States, Britain and Germany behind. This will allow Russia to strengthen its global leadership, analysts said.
According to BCG, in 2010 Russia was one of the countries in the world with the lowest rates of card transactions per capita. 11 years ago, Russia was 40 times behind the world leader in this regard (Norway), in 2021, this gap has decreased to 1.5 times, RIA Novosti reports.
"The Russian miracle continues its victorious march! In the next 10 years, according to our forecasts, card payments in Russia will grow at the fastest pace," said Max Hauser, head of BCG's digital technology practice in Russia and the CIS.
He noted that debit cards will show the fastest growth.
Analysts believe that revenues from non-cash payments in Russia will grow faster than in other Eastern European countries. They predict a doubling of revenue in the next 10 years.
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