Contactless payments usage increases in Russia

Thursday 30 May 2019 08:37 CET | News

Russian customers are more often using contactless payment methods to pay for purchases, Yandex.Money has shown.

Yandex.Money has examined how Russians use cards to pay contactless in various stores, from hypermarkets to luxury brands, taking into account the data on user payments for the last 12 months against the same period in 2018.

The results show that the number of payments made with smartphones has increased nearly threefold in 2018 while contactless in-store transactions are already above 50% in Russia.

Other key findings:

  • the number of payments via Apple Pay, Google Pay, Samsung Pay, and Garmin Pay made with Yandex.Money cards has increased 2.5 times in 2018;

  • contactless payments are popular among customers of both online and offline stores;

  • in the total amount of contactless payments made via Yandex.Money, the percentage of payments made with smartphones has increased from 29% to 39%, and the turnover accounts for 48%, which is 1.5 times more than in 2018;

  • virtual cards accounted for 20% of the turnover of contactless payments via Yandex.Money, and now they account for 35%;

  • the percentage of the turnover of payments made via physical cards has decreased from 80% to 65%;

  • most contactless payments made with Yandex.Money cards (91%) are in the amount of up to USD 15.5 (1,000 rubles) while the percentage of payments from USD 15.5 to USD 77.4 (5,000 rubles) has decreased from 9% to 8%;

  • customers use contactless payments for relatively inexpensive goods and services, such as food and alcohol, dining, transportation.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Yandex.Money, contactless payments, Russia, card, Apple Pay, Google Pay, Samsung Pay, Garmin Pay
Countries: World

Industry Events