By 2030, One Quarter of Payments in Russia May Be Made via QR Codes and Biometrics
In Russia, payments made using QR codes and biometrics could exceed 20-25% of total transactions by 2030. Alla Bakina, Director of the National Payment System Department at the Central Bank of Russia, shared insights on the latest trends in payment methods in an interview with TASS.
She noted that the balance of payment methods is changing, pointing to certain trends in the industry.
"Primarily, this is influenced by the payment behavior of individuals and businesses, which is shaped by the tools that banks and other market participants offer. For example, by the end of the third quarter, payments using QR codes, biometrics, and other non-card payment methods accounted for more than 14% of total cashless payments. Not long ago, this was just a few percentage points,” said the financial expert.
Digital Ruble to Play a Role
The digital ruble will also contribute to the rise in non-card payments in the overall volume of cashless transactions.
According to forecasts from the Central Bank of Russia, the digital ruble could account for up to 5% of payment volumes over the next seven years. Its mass implementation is planned for September 2026, added Alla Bakina.
