Russians Make 35 Million Instant Payments a Day — and Growing Fast
The country’s real-time payment system is now used by seven out of ten citizens, reshaping the nation’s digital economy.
Russia’s Fast Payment System (FPS) — a nationwide digital platform that enables instant money transfers between banks without fees — has seen explosive growth. In the third quarter of 2025, Russians made an average of 35 million transactions per day, up 30% year over year, according to the Bank of Russia. The record daily volume hit 65 million transfers.
The service has become one of the country’s most popular financial tools. Seven in ten Russians now use the FPS, and half say it’s their primary way to pay for purchases. On average, users made about 30 transactions over three months, moving a total of 23.6 trillion rubles (around $290 billion) during the quarter.
Experts say the platform’s success goes beyond convenience. By standardizing and simplifying digital transfers, the FPS intensifies competition among banks, pushing them to improve loyalty programs and innovate faster. It also gives ordinary consumers greater control over their finances—cementing Russia’s position as one of the global leaders in real-time payment adoption.
